The IASB is likely to require companies to factor the potential uncertainty of a tax position, regardless of how small this may be
The US standard setters are set to adopt their first IFRS rule wholesale into US accounting, in the form of IAS 12, which deals with tax.
But the standard could leave investors uncertain as to how tax positions would be accounted for, since the US standard, FIN 48, tells companies how to account for uncertainty in tax positions, and specifically requires companies to include information about potential tax liabilities – information previously hidden with other potential liabilities.
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