Fin 48

Fin 48 - is an official interpretation of United States accounting rules that requires businesses to analyze and disclose income tax risks.

FIN 48 (codified at ASC 740-10) Defined: as an official interpretation of United States accounting rules that requires businesses to analyze and disclose income tax risks. It was effective in 2007 for publicly traded entities, and is now effective for all entities adhering to US GAAP. A business may recognize an income tax benefit only if it is more likely than not that the benefit will be sustained. The amount of benefit recognized is based on relative probable outcomes.

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