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What Can We Learn About Uncertain Tax Benefits From FIN 48?

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Listed:
  • Blouin, Jennifer
  • Gleason, Cristi
  • Mills, Lillian
  • Sikes, Stephanie

Abstract

FIN 48, Accounting for Uncertainty in Income Taxes, standardizes accounting for uncertain tax benefits and requires companies to disclose their tax reserve amounts. We summarize hand–collected disclosures related to tax reserves from 2005 through the first quarter of 2007. For the largest 100 non–financial, non–regulated firms, the reserve at adoption on January 1, 2007 is $78 billion excluding interest, or about two percent of assets. Of this $78 billion, an estimated $58 billion would affect earnings if ever released.

Suggested Citation

  • Blouin, Jennifer & Gleason, Cristi & Mills, Lillian & Sikes, Stephanie, 2007. "What Can We Learn About Uncertain Tax Benefits From FIN 48?," National Tax Journal, National Tax Association;National Tax Journal, vol. 60(3), pages 521-535, September.
    • Handle: RePEc:ntj:journl:v:60:y:2007:i:3:p:521-35
    DOI: 10.17310/ntj.2007.3.11
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    References listed on IDEAS

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    1. Royal Swedish Academy of Sciences, 2007. "Press Release by The Royal Swedish Academy of Sciences, from The Essential John Nash," Introductory Chapters, in: Harold W. Kuhn & Sylvia Nasar (ed.),The Essential John Nash, Princeton University Press.
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    Cited by:

    1. Cristian Carini & Michele Moretto & Paolo M. Panteghini & Sergio Vergalli, 2020. "Deferred taxation under default risk," Journal of Economics, Springer, vol. 129(1), pages 33-48, January.
    2. Graham, John R. & Raedy, Jana S. & Shackelford, Douglas A., 2012. "Research in accounting for income taxes," Journal of Accounting and Economics, Elsevier, vol. 53(1), pages 412-434.
    3. Borkowski, Susan C. & Gaffney, Mary Anne, 2021. "FIN 48 and the tax aggressive behaviors of transnational corporations: A decade later," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 42(C).
    4. Evers, Maria Theresia & Meier, Ina & Spengel, Christoph, 2014. "Transparency in financial reporting: Is country-by-country reporting suitable to combat international profit shifting?," ZEW Discussion Papers 14-015, ZEW - Leibniz Centre for European Economic Research.
    5. Feldman, Naomi & Kawano, Laura & Patel, Elena & Rao, Nirupama & Stevens, Michael & Edgerton, Jesse, 2021. "Investment differences between public and private firms: Evidence from U.S. tax returns," Journal of Public Economics, Elsevier, vol. 196(C).
    6. Evers, Andrea & Hundsdoerfer, Jochen, 2014. "Country-by-Country Reporting: Eine neue Rechnungslegung über länderspezifische Wertschöpfung und Ertragsteuern?," Discussion Papers 2014/20, Free University Berlin, School of Business & Economics.
    7. Lisa De Simone & Jordan Nickerson & Jeri Seidman & Bridget Stomberg, 2020. "How Reliably Do Empirical Tests Identify Tax Avoidance?†," Contemporary Accounting Research, John Wiley & Sons, vol. 37(3), pages 1536-1561, September.
    8. Song, Huimin & Tao, Xuedan & Wang, Huabing (Barbara) & Zhang, Jinkang & Zhang, Linlin, 2024. "Does mandatory tax disclosure mitigate tax expense anomaly? Evidence from FIN 48," Finance Research Letters, Elsevier, vol. 59(C).
    9. Michael P. Donohoe & Gary A. McGill & Edmund Outslay, 2014. "Risky Business: The Prosopography of Corporate Tax Planning," National Tax Journal, National Tax Association;National Tax Journal, vol. 67(4), pages 851-874, December.
    10. Thomas Smith & Adrian Valencia & Ara Volkan & Jordin Vorisek, 2023. "Fasb Fin 48 Disclosures: Evidence On User Perceptions," Accounting & Taxation, The Institute for Business and Finance Research, vol. 15(1), pages 27-41.
    11. Lin, Shannon & Tong, Naqiong & Tucker, Alan L., 2014. "Corporate tax aggression and debt," Journal of Banking & Finance, Elsevier, vol. 40(C), pages 227-241.
    12. Yost, Benjamin P., 2023. "Do tax-based proprietary costs discourage public listing?," Journal of Accounting and Economics, Elsevier, vol. 75(2).

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