50-15 All entities shall disclose all of the following at the end of each annual reporting period presented: . . .
c. The total amounts of interest and penalties recognized in the statement of operations and the total amounts of interest and penalties recognized in the statement of financial position
d. For positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within 12 months of the reporting date:
1. The nature of the uncertainty
2. The nature of the event that could occur in the next 12 months that would cause the change
3. An estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made.
e. A description of tax years that remain subject to examination by major tax jurisdictions.
50-15A Public entities shall disclose both of the following at the end of each annual reporting period presented:
- A tabular reconciliation of the total
amounts of unrecognized tax benefits at the beginning
and end of the period, which shall include at a
- The gross amounts of the increases and decreases in unrecognized tax benefits as a result of tax positions taken during a prior period
- The gross amounts of increases and decreases in unrecognized tax benefits as a result of tax positions taken during the current period
- The amounts of decreases in the unrecognized tax benefits relating to settlements with taxing authorities
- Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitations.
- The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate.
See Example 30 (paragraph 740-10-55-217) for an illustration of disclosures about uncertainty in income taxes.
Related Implementation Guidance and Illustrations
- Example 30: Disclosure Relating to Uncertainty in Income Taxes [ASC 740-10-55-217].