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FASB Issues FIN 48 On Uncertainty In Income Taxes

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FASB Issues FIN 48 on Uncertainty in Income Taxes

July 13, 2006

FEI Summary

 

On July 13, 2006, the Financial Accounting Standards Board (FASB) issued FASB Interpretation No. 48, (“FIN 48"), entitled, “Accounting for Uncertainty in Income Taxes - an Interpretation of FASB Statement No. 109".  Note: FASB Statement 109 (FAS 109) is "Accounting for Income Taxes."  Concurrently, FASB issued a FASB staff position (FSP) relating to income taxes, (FSP) No.  FAS 13-2, "Accounting for a Change or Projected Change in the Timing of Cash Flows Relating to Income Taxes Generated by a Leveraged Lease Transaction."

 

 

An FEI summary is available here

 

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