The Rising Influence of Rising Affluence

[Tim Lamb]

Without looking at a tax footnote it should be buried in the deferred tax liability.

Back in my day we called it a supplemental tax liability and you didn't want to disclose it or else it alerted the taxing authority and they would then want the actual workpapers which could have your estimates of prevailing on various tax positions.

I know disclosure rules have changed and the ability to not disclose this to the taxing authority as well. Used to be limited discussions with the accountants as they did not have attorney / client status to protect confidentiality.