FIN 48- Review & Advice

For companies subject to FIN 48 (Financial Accounting Standards Board Interpretation No. 48 – Accounting for Uncertainty in Income Taxes), it requires them to report a tax position on their financial statements only when it has been determined that the tax position is more likely than not (> 50%) to be sustained on examination (this includes related appeals or litigation processes), or if a tax benefit or liability has been effectively settled by the completion of an audit, a negotiated settlement has been reached, or a court decision has been issued.  The taxpayer must then make five crucial disclosures related to uncertain tax positions – that is, those tax positions that are not more likely than not to be sustained.  Implementing the process for complying with FIN 48 can be challenging and expensive, whether a company chooses to use in-house expertise or hire outside consultants.  Failure to comply with FIN 48 can bring your company all sorts of unwanted attention, e.g., disclosure of tax-related material weaknesses to the SEC or your investors.  We can use our Big Four accounting firm tax consulting experience to review and advice on your FIN 48 implementation and compliance processes at very affordable fees.  We can also represent you in case of an IRS or any other taxing authorities’ audit of your FIN 48 processes.

Other tax matters where we provide quality and affordable advice, opinions, representation, and/or preparation of documents include:

  • Sales and Use Tax
  • Employment Tax
  • Business Formation and/or Succession Tax Planning

Don’t hesitate to contact or call us at (770) 962-7201.  Your initial consultation is free.