FASB: Status of Interpretation 48

Status of Interpretation No. 48

Accounting for Uncertainty in Income Taxes—an interpretation of FASB Statement No. 109

Status

Issued: June 2006

Effective Date:
For fiscal years beginning after December 15, 2006

Affects:
Amends FAS 5, paragraphs 2 and 39
Replaces FAS 109, paragraph 8(a)
Amends FAS 109, 10 and 289

Affected by:
Paragraphs 8, 10(b), 12, A3, A4, A22, A24 through A26, and A29 amended by FSP FIN 48-1, paragraphs A1(a), A1(b), and A1(d) through A1(k), respectively
Paragraphs 10A through 10C added by FSP FIN 48-1, paragraph A1(c)
Paragraphs 12A and 12B added by FAS 141(R), paragraph E35*
Paragraph 22 amended by FSP FIN 48-2, paragraph 6(a)
Paragraph 22A added by FSP FIN 48-2, paragraph 6 (b)
Paragraph C1 amended by FAS 162, paragraph B13||
Footnote 3 deleted by FAS 162, paragraph B13||

Other Interpretive Releases:
FASB Staff Position FAS 13-2
FASB Staff Positions FIN 48-1 and FIN 48-2

Issues Discussed by FASB Emerging Issues Task Force (EITF)

Affects:
No EITF Issues

Interpreted by:
No EITF Issues

Related Issue:
EITF Issue No. 93-7


_______________________
*Note: Amendments as a result of the issuance of FAS 141(R) are effective for business combinations with an acquisition date on or after the beginning of the first annual reporting period beginning on or after 12/15/08.
||Note: Amendments as a result of FAS 162 are effective 60 days following the SEC’s approval of the PCAOB’s amendments to AU Section 411, The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles.


Abbreviations for Accounting Pronouncements

FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides

Additional Details