Uncertain Tax Positions: Accounting for Income Tax-And Why it Matters to Both Individual and Business Investors

摘要

When evaluating the after-tax benefits or costs of an investment, taxpayers and their advisors need to consider not only the relevant tax law but the related accounting for income tax—even for those taxpayers who do not prepare financial statements—because all investtnent decisions require an analysis of the investor's income tax cost. This article sets out the issues involved, explains the differ-ences between tax andfinancial accounting, and provides aframe-workfor the application offinancial accounting and tax rules to an investor's particular set offacts.