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November 20, 2020

EY updates FRD on income taxes

EY has updated its Financial reporting developments (FRD) publication on income taxes. The updated publication reflects ASU 2019-12, Simplifying the Accounting for Income Taxes. It also clarifies and enhances interpretive guidance in several areas.

The updated FRD includes guidance on the accounting for the income tax provisions of the Coronavirus Aid, Relief, and Economic Security Act. See Appendix D of the publication for a summary of the updates.


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