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Disclosure framework: Disclosure review — Income taxes

The objective of this project is to improve the effectiveness of disclosures for income taxes.


Meeting minutes

  • January 25, 2017 — The Board discussed feedback on its proposed ASU.
  • June 8, 2016 — The Board discussed the disaggregation of indefinitely reinvested foreign earnings, carryforward disclosures, and disclosures required for public business entities versus those required for other entities.
  • March 23, 2016 — The Board discussed disclosures related to income tax.
  • October 21, 2015 — The Board discussed income tax disclosure requirements related to income taxes paid, deferred income taxes, valuation allowances, and rate reconciliation.
  • August 26, 2015 — The Board discussed unrecognized tax benefits.
  • February 11, 2015 — The Board discussed income tax disclosures, particularly those related to unremitted foreign earnings.
  • January 7, 2015 — The Board discussed issues related to disclosure requirements for income taxes, interim reporting, and inventory.
  • April 4, 2014 — The Board discussed (1) results from the field study that was conducted to better understand the use of discretion in notes to financial statements and (2) next steps based on the field study findings.


Current status

On January 25, 2017, the Board discussed comments received on its July 2016 proposed ASU, Disclosure Framework — Changes to the Disclosure Requirements for Income Taxes. No decisions were made. The FASB will host a public roundtable meeting on March 17, 2017, at its offices in Norwalk, Connecticut.


Project milestones

Date Developments Comments
March 4, 2014 Exposure Draft, Conceptual Framework for Financial Reporting: Chapter 8: Notes to Financial Statements, is issued by the FASB. Comment deadline July 14, 2014.
July 26, 2016 Proposed ASU, Disclosure Framework — Changes to the Disclosure Requirements for Income Taxes Comment deadline September 30, 2016.

Correction list for hyphenation

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