7 million as a result of the Tax Cuts and Jobs Act of 2017 and the reversal of reserves for uncertain tax positions
Non-cash interest expense for the fourth quarter of 2017 and 2016, which includes amortization of debt discounts and debt issuance costs, and interest related to uncertain tax positions
, was $1.
The draft version of the amendments asks whether the uncertain tax positions
should be considered separately or collectively, whether the tax agency that is authorized to examine the reported amounts will have full knowledge of all the information related to them during its examination of an entity's financial statements, and the likelihood that the tax agency will accept the amounts reported in the financial statements.
Prior to the issuance of Schedule UTP, there was no requirement to disclose uncertain tax positions
Also, the net income in the same period last year was greater due to the reversal of uncertain tax positions
, the company said.
9% a year ago, largely due to federal job tax credits, foreign tax benefits associated with the company's global sourcing efforts and favorable changes in the reserves for uncertain tax positions
Uncertain tax positions
are evaluated in a two-step process:
7 million of incremental income tax charges related to an increase in our reserve for uncertain tax positions
and other income tax changes.
ASC Topic 740, Income Taxes (formerly FIN 481, which is intended to increase relevance and comparability in reporting information about uncertain tax positions
Adjusted net income (non-GAAP), defined as income from continuing operations before share-based compensation expenses, foreign exchange loss or gain, penalties on uncertain tax positions
and post-acquisition settlement consideration, was RMB6.
She works with companies to identify solutions in tax accounting, financial reporting and the related technology, and operational transfer pricing, including ONESOURCE Tax Provision, ONESOURCE Uncertain Tax Positions
, ONESOURCE Workflow Manager and Global Pricing Compliance.
Other articles of particular interest: IPO practices relating to executive compensation, clarifying uncertain tax positions
rules, measuring the investor relations function and avoiding mistakes when negotiating with suppliers.