Course Information

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FIN 48: Roadmap or Compass for the IRS? (2008 Edition)
Author: CCH Editorial Staff

Description:
This course explores Financial Accounting Standards Board (FASB) Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes.

According to FASB, FIN 48 will help to bring about greater consistency in measurement associated in accounting for income taxes. However, its disclosure provisions have troubled many practitioners and taxpayers who fear it will be a roadmap for the IRS.

Topics covered in this course include:

  • Taxpayers impacted by FIN 48
  • Reasons for FIN 48
  • Definition and evaluation of a tax position
  • Unit of account
  • Penalties and interest
  • Effective settlements
  • Disclosure provisions
  • IRS response to disclosure concerns
  • IRS view of effective settlement
  • Tax accrual work papers

Course Details:
Price:  $45.00
Field of Study:  Taxes
Prerequisites:  None
Level:  Basic
Advanced Preparation:  None
CTEC course number:  1075-CE-3198
Course was last updated on:  01/16/08
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Library:
Learning Center Core

Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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Credit Available For: Units
CPE 3.0 CPE
QAS 3.0 CPE
Law (Accepted by the State Bar of California) 3.0 CPE
CTEC Federal 3.0 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

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