Uncertain tax positions: The basics

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08/04/20

Tax positions require reassessment in periods of change. Hear PwC discuss the key concepts in accounting for uncertain tax positions.
 

Accounting for uncertain tax positions requires considerable judgement; we understand. That’s why we’re going back to the basics: from the recognition of a tax position to the reassessment of positions at each reporting period. In this episode, host Heather Horn along with PwC tax specialists focus on the fundamental concepts of uncertain tax positions.

Topics include:

  • 0:48 - Recognition. Before getting into the broader accounting model, we discuss the definition of a tax position and when it is recognized in the financial statements.
  • 6:08 - Measurement. How should the entity measure the tax benefit of a position? We explain.
  • 10:01 - Changes in recognition/measurement. Next, we help listeners understand when a company would reassess its uncertain tax positions. Then also cover the documentation. 
  • 16:34 - Subsequent events. Here we discuss how to handle developments that occur after the balance sheet date but before the issuance of the financial statements.
  • 18:21 - Impact of new tax regulations. The accounting for changes in tax regulations is different from how new FASB standards are adopted. We close by discussing how developments in tax regulations can impact uncertain tax positions.

About our guests

Jennifer Spang is a tax partner in PwC's National Office specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. 

Kassie Bauman is a managing director in PwC's National office who consults on tax accounting under US GAAP and IFRS. Kassie has more than 20 years of auditing and accounting experience, including almost a decade of experience addressing complex technical accounting matters as part of our National office.

About our host

Heather Horn is PwC's National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

Contact us

Heather Horn

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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