Billy VanDenburgh and Mike Braswell Featured on the Cover of Tax Notes

Billy VanDenburgh‘s and Mike Braswell‘s comprehensive article on corporate income tax reporting was featured on the cover of the December 9, 2024 issue of Tax Notes Federal.

In the article, titled “FASB Revised Income Tax Disclosures Compared With Present Practices,” VanDenburgh and Braswell examine the Financial Accounting Standards Board’s 2023 update on income tax disclosures and analyze differences between actual cash income tax payments and income tax expense provisions under U.S. generally accepted accounting principles for five major U.S. corporations.

They argue that corporations should report the actual cash taxes paid to federal, state, and international entities annually. While they acknowledge that the FASB’s upcoming changes are a step in the right direction, they also believe these changes have been somewhat diluted.

Congratulations to Billy and Mike! Read the report below.