Heads Up — FASB Proposes Amendments to Income Tax Disclosure Requirements
Published on:
22 Mar 2023
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This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update (ASU), Improvements to Income Tax Disclosures, which would modify or eliminate certain existing income tax disclosure requirements in addition to establishing new requirements. The proposal is intended to improve the usefulness of income tax information for financial statement users while addressing investors’ requests for greater transparency in, and enhancements to, disclosures related to the rate reconciliation and income taxes paid. Comments on the proposed ASU are due by May 30, 2023.
