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Opinion: FASB should Require Companies to Report what they Pay in Federal Taxes

Opinion: FASB should require companies to report what they pay in federal taxes

"If the Financial Accounting Standards Board were to change its rules to require companies to disclose the amount of federal income tax they pay for a given year, it would go far toward settling the debate over how to restructure corporate taxes, writes Fortune editor-at-large Allan Sloan. That is because the studies that determine how much a company pays in taxes usually associate an accounting entry called "current portion of U.S. taxes" with the taxes a company sends the IRS. However, those two numbers are rarely the same."

Source: SmartBrief |