At its meeting on April 10, 2019, the FASB decided to add a project to its agenda regarding simplifications to accounting for income taxes. The Board tentatively decided on the scope of the project, which is part of its Simplification Initiative. In its initial discussion of this topic, the FASB noted that “accounting for income taxes has consistently been among the top areas of restatements over the last several years,” and is, therefore, worth considering further for simplification.
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