FASB Issues Proposed ASU to Enhance Income Tax Disclosure Requirements

The FASB has issued a proposed ASU, Disclosure Framework — Changes to the Disclosure Requirements for Income Taxes, which is intended to enhance the income tax disclosure requirements in U.S. GAAP.

In addition to modifying certain existing income tax disclosure requirements, the proposed ASU would prescribe several new requirements. The purpose of the proposal, which is part of the Board’s disclosure framework project, is to increase the relevance of income tax disclosures for financial statement users.

Comments on the proposed ASU are due by May 31, 2019. For more information, see Deloitte's related Heads Up newsletter as well as the press release on the FASB’s Web site.