Is tax law black and white? No, definitely not! There’s a lot of gray area in tax law causing companies to take positions that may, or may not, be sustained if reviewed by taxing authorities. This uncertainty in income taxes has an impact on the financial statements, as well as the tax return. ASC 740 Income Taxes provides guidance on how to account for this uncertainty in U.S. GAAP financial statements. Now that you have a good understanding of accounting for income taxes in accordance with ASC 740, it’s time to take your tax knowledge to the next level! In this CPE-eligible, eLearning course (1.5 CPE) we explore the identification of, and accounting for, uncertainty in income taxes using the guidance in ASC 740.