The ABA Tax Section offers a teleconference and webcast today on FIN 48—Uncertain Accounting for Tax Uncertainties from 1:00 – 2:30 p.m. EST:

The new rules of the Financial Accounting Standards Board (FASB) Interpretation No. 48 (FIN 48) may have a significant impact, particularly on when tax benefits for uncertain tax positions may be reported in companies’ U.S. GAAP financial statements and the amount that may be reported. The rules include a “more-likely-than-not” standard for any recognition and a new measurement system for calculating the amount that may be recognized. In addition, documentation requirements are increased and tax footnote disclosures are broadened.

Join our distinguished panelists as they discuss what every tax practitioner should know about FIN 48. The discussion will cover how to account for uncertainty in income taxes – from basic rules to more challenging issues and complexities associated with implementing the new standard and monitoring and updating FIN 48 liabilities every quarter thereafter.

Faculty:

• Bob Adams (Senior Advisor to the Commissioner and Deputy Commissioner of Large and Mid-Size Business Division (LMSB), IRS)
• P. Michael Baldasaro (Ernst & Young, New York)
• Helen Hubbard (Baker & McKenzie, Washington, D.C.)
• Pamela F. Olson (Skadden, Washington, D.C.; former Assistant Secretary of the Treasury for Tax Policy)