Recommendations to the FASB on FIN No. 48
Status of Recommendations
On February 1, 2008, FASB Staff Position (“FSP”) FIN 48-2, Effective Date of FASB Interpretation No. 48 for Certain Nonpublic Enterprises, was issued. This FSP defers the effective date of FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes, for certain nonpublic enterprises as defined in paragraph 289, as amended, of FASB Statement No. 109, Accounting for Income Taxes. For more information about the FSP, go to the FASB web site at http://www.fasb.org /pdf/fsp_fin48-2.pdf
The issuance of FSP FIN 48-2 was in response to the PCFRC’s recommendation letter to the FASB that observed that there has been confusion about whether FIN No. 48 applies to pass-through entities, thereby affecting their preparedness to apply the Interpretation’s provisions by the original effective date.
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