With GAAP IFRS Convergence Now an SEC Priority, Taxpayers Need to Consider Potential Multistate Impacts

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As the financial crisis on Wall Street has subsided, the Securities and Exchange Commission has shifted its focus back to the proposed convergence of generally accepted accounting principles with international financial reporting standards. In this article, authors Douglas M. Sayuk, Matthew H. Fricke, and Shamen R. Dugger of Clifton Douglas LLP discuss the potential state tax impacts of that convergence, with a particular focus on the differences in calculating uncertain tax positions.
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