At its February 12, 2020, meeting, the FASB discussed its project on income tax
disclosure requirements and endorsed a Private Company Council (PCC) consensus.
Income Tax Disclosure Requirements
The Board discussed comments on its March 2019 proposed Accounting Standards
Update (ASU), Disclosure Framework — Changes to the Disclosure Requirements
for Income Taxes, and directed the staff to research (1) alternatives
related to disclosing “certain disaggregated income tax information” and (2)
“various other proposed amendments.”
The Board endorsed certain decisions made during the December 16, 2019, PCC
meeting on Issue No. 2018-01, “Practical Expedient to Measure Grant-Date Fair
Value of Equity-Classified Share-Based Awards,” and directed the staff to draft
a proposed ASU for a vote by written ballot.