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Re: longfellow95 post# 291349

Wednesday, 06/24/2020 2:12:45 PM

Wednesday, June 24, 2020 2:12:45 PM

Post# of 701930
you wrote: Quote:
..it is in the view of the Company that it is not more likely than not that the resolution of these tax matters will result in a net material charge.
'Not more likely than not'.
I wonder what that means?

Lol.

https://home.kpmg/content/dam/kpmg/us/pdf/2017/10/tnf-wnit-gaap.pdf
includes:

U.S. GAAP

If it is more likely than not that some level of tax benefit related to a tax position will be sustained upon examination, the amount recognized in the financial statements is measured as the largest amount of tax benefit greater than 50 percent likely of being realized upon settlement

If it is not more likely than not that a tax position will be sustained upon examination, an unrecognized tax benefit is established for the entire tax benefit



Hope that clears it up.
LOL.
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