Income Tax Disclosures Webinar
Overview
Income tax disclosures remain a significant area of SEC scrutiny, with complex reporting requirements and judgments that can contribute to financial statement errors and restatements. Public companies must provide clear, consistent information about their tax positions across the financial statements, tax footnotes, and MD&A.This webinar examines ASC 740 presentation and disclosure requirements, with particular attention to ASU 2023-09, Improvements to Income Tax Disclosures. Through SEC comment-letter examples and financial statement illustrations, our expert will explain how to identify disclosure gaps, support significant judgments, and improve consistency across reporting.Participants will learn how to:
- Identify common income tax reporting issues and areas of SEC scrutiny
- Evaluate the presentation and disclosure of current and deferred taxes, valuation allowances, and uncertain tax positions
- Apply expanded rate reconciliation and income taxes paid disclosure requirements
This webinar qualifies for 1 CPE Credit in NASBA’s Accounting Field of Study.
Objective
To enable CPAs, accountants, and finance professionals to evaluate income tax presentation and disclosures under ASC 740, address the requirements of ASU 2023-09, and recognize common reporting pitfalls affecting public business entities.
Emphasis
- Income tax restatements and financial reporting risk
- SEC comments on effective tax rates, valuation allowances, and unrecognized tax benefits
- Tax-related disclosures in MD&A, including critical accounting estimates and liquidity
- Financial statement classification and jurisdictional netting of tax balances
- Tax footnote requirements and consistency with the financial statements
- ASU 2023-09 effective dates and transition considerations
- Standardized rate reconciliation categories and disaggregation thresholds
- Income taxes paid disclosures by jurisdiction
- Deferred tax assets, valuation allowances, and uncertain tax position disclosures
- Common disclosure pitfalls and reporting best practices
Speakers
Kabina Bhari, CPA, MST, Managing Director, Washington National Tax, ASC 740, BDO USA
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