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.