SEC - The United States Securities and Exchange Commission
08/02/2024 | Press release | Distributed by Public on 08/02/2024 08:01
FASB Issues Proposed Taxonomy Implementation Guide for Income Taxes
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FASB Issues Proposed Taxonomy Implementation Guide for Income Taxes
Aug. 2, 2024
The Financial Accounting Standards Board (FASB) has published a proposed Taxonomy Implementation Guide, Income Taxes (Topic 740) (Guide) based on the 2024 GAAP Financial Reporting Taxonomy (Taxonomy). The proposed Guide demonstrates the modeling for the reporting of income taxes under FASB Accounting Standards Codification Topic 740 through examples and focuses on detail tagging only (Level 4).
The public comment period will end on September 3, 2024. Comments should be submitted directly to the FASB. The SEC staff encourages filers, investors, analysts, software service providers, and other interested parties to participate in this public review to continue to improve the process for creating and using XBRL-structured financial statements.
Last Reviewed or Updated: Aug. 2, 2024