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ASC 740: Accounting for Uncertain Tax Positions for Nonprofits

Gain a better understanding of reporting requirements and how to identify tax positions that can create uncertainty. With complexities that surround tax law and the potential for significant changes in tax law, non-for-profit companies can often have a difficult time in identifying when an uncertain tax position arises and then properly measuring and recognizing any tax benefit from the uncertain tax position. This topic will help those in the not-for-profit realm receive an in-depth understanding ASC 740 to determine the proper accounting treatment of uncertain tax positions. The information also explains first how to identify an uncertain tax position and then how to properly measure, record and disclose the uncertain tax position in a not-for-profit's financial statement.


Runtime: 89 minutes
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Identifying Uncertain Tax Position

  • Decision Not to File and Decision to Classify as Tax Exempt
  • Allocations and Shifts of Income Between Jurisdictions
  • Characterization of Income
  • Entity Status/Misc. Tax Positions

Determine When to Recognize Tax Benefits for Financial Reporting Purposes

  • General Rules
  • Changes in Recognition in Subsequent Periods

Measuring the Tax Benefit

  • General Rules
  • Changes in Recognition in Subsequent Periods

Disclosing Tax Benefits From Uncertain Tax Positions

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

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This course was last revised on January 10, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Nicholas Preusch

Nicholas Preusch

PBMares, LLP

  • Tax Manager for PBMares, LLP
  • Practice emphasis in not-for-profits, international tax, and tax ethics
  • Conducts regular seminars and workshops on numerous complex tax issues across the United States
  • Published in the AICPA's Journal of Accountancy, The Tax Adviser, CCH's Journal of Tax Practice and Procedure, and a co-written textbook on Circular 230 and Preparer Penalties published by Thomson Reuters
  • Member of the AICPA and Virginia Society of CPAs
  • LL.M degree in taxation, Georgetown University; J.D. degree, Case Western Reserve University; M.S. degree in accounting, University of Connecticut; B.A. degree in accounting and business, Carthage College
  • Can be contacted at 540-940-2666 or [email protected]
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Product ID: 400840
Published 2018
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