CORPTAX® FIN 48 software was developed to help our clients meet their FIN 48 compliance responsibilities. CORPTAX FIN 48 addresses what may be one of the most dramatic changes to corporate taxation in many years.
The Financial Accounting Standards Board (FASB) Interpretation No. 48 – Accounting for Uncertainty in Income Taxes calls for the recognition and measurement of all tax positions taken or expected to be taken by all U.S. companies. CORPTAX® FIN 48 software is the solution your organization needs to manage uncertain tax positions by giving you the tools to recognize and measure the tax benefit related to your tax positions.
CORPTAX FIN 48 software helps you manage and report your tax positions by focusing on the four key areas of compliance:
-
Recognition—data gathering and organizing of open tax positions
-
Measurement—analysis and measurement of probability of positions’ sustainability upon audit and the related interest charge by tax due date
-
Disclosure—footnote disclosure and reconciliation of tax and FIN 48 basis
-
Process Management—management of the flow of information related to the tax positions throughout various tax processes including provision, compliance and audit
The management of these key areas enables you to improve the accuracy and consistency in your financial statements while reducing the associated risk.
