FIN 48 Answer Book is designed to for practitioners who need quick and authoritative answers to questions concerning the implementation of FIN 48. This book uses simple straightforward language to provide guidance on consistent accounting practices and criteria for enterprises reporting tax benefits from uncertain tax positions. The question-and-answer format, with its breadth of coverage, effectively conveys the complex subject matter of implementing and applying FIN 48.

In addition, the book has several appendices that contain:

                     Easy-to-use practice aids (e.g., Client Evaluation Forms, Implementation Action Plans, etc.).

                     Supporting SEC FIN 48-related sample filings and disclosure documents.

                     Best practices--lessons learned from leading practitioners in the field.

Topics and Contents

Overview and Scope of Fin 48

Identifying Tax Positions

Determining the Unit of Account

Recognition of Tax Benefits Under the "More Likely Than Not" Threshold

Measuring the Benefit

Changes in Subsequent Periods

Interest and Penalties

Financial Statement Classification

Disclosure

Tax Examination Management

Tax Planning

Effective Date and Transition

FASB Staff Position No. FIN 48-1

Ongoing FIN 48 Reporting

AICPA FIN 48 Guidance

Jurisdictional Public Utilities and Licensees, Natural Gas Companies, Oil Pipeline Companies, and Centralized Service Companies

Financial Services Industry

Appendix A: Practice Aids

Appendix B: Best Practices

Appendix C: Sample Filings: Securities Exchange Commission Filings and FIN 48: Sample Sab 74 FIN 48 Disclosures

Appendix D: Sample Filings: Securities Exchange Commission Filings and FIN 48: Sample Interim 10Q FIN 48 Filings

Appendix E: FIN-48: FIN 48, Accounting for Uncertainty in Income Taxes--An Interpretation of FASB Statement No. 109