AICPA deletes nonauthoritative guidance on uncertain tax position disclosures

As part of an effort to clarify guidance regarding uncertain tax positions for nonpublic entities, the AICPA deleted a nonauthoritative Technical Question and Answer (Q&A) that was issued in May 2010.

The deleted guidance had been included as Q&A Section 5250.15, Application of Certain FASB Interpretation No. 48 (Codified in FASB ASC 740-10) Disclosure Requirements to Nonpublic Entities That Do Not Have Uncertain Tax Positions, of AICPA Technical Questions and Answers.

The nonauthoritative guidance had said that nonpublic entities are required to make certain disclosures regardless of whether the entities have uncertain tax positions. During a Private Company Council (PCC) meeting in February, PCC and FASB members said disclosures are necessary only if an entity has uncertain tax positions.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.