FIN 48 officially delayed for nonpublic enterprises.
FASB has issued Staff Position FIN 48-3, Effective Date of FASB
Interpretation No. 48 for Certain Nonpublic Enterprises, which defers
the effective date of FASB Interpretation No. 48, Accounting for
Uncertainty in Income Taxes, for certain nonpublic enterprises,
including nonpublic not-for-profit organizations, for fiscal years
beginning after Dec. 15, 2008.
FASB decided that nonpublic enterprises that elect the deferral should include an explicit disclosure of that election and also disclose
its accounting policy for evaluating uncertain tax positions in each set
of financial statement to which the deferral applies.
Learn more at www.calcpa.org/FIN48-3.