Under U.S. GAAP, all public entities must disclose in percentages or dollars a reconciliation between (1) the reported amount of income tax expense attributable to continuing operations and (2) the amount of income tax expense that would have resulted from applying domestic federal statutory rates to pretax income from continuing operations. In addition, they should disclose the amount and nature of each significant reconciling item. For nonpublic entities, a numerical reconciliation is not required; however, the nature of all significant reconciling items related to (1) and (2) above should be disclosed. See Section 14.3.1 for additional guidance.
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This publication provides comprehensive guidance; however, it does not address all possible fact patterns, and the guidance is subject to change. Consult a Deloitte & Touche LLP professional regarding your specific issues and questions.