FIN48 Solutions Group, LLC

This screen allows the user to define the position. This includes information such as the effective date of the assessment, key phrase information, statute of limitations date, extensions to the statute of limitations, and other descriptive information. Most of the other information is available in drop-down menus built from tables tailored to the organization’s entity, account, and M-1 structure.

The software assigns a unique, sequential tax position number to identify and control each position.

 

• Expanded Description Tab

A separate tab and input screen is also provided to enable an expanded description of the position including the ability to add unlimited text and date/time notes.

This screen provides fields for entering key information to support the legal basis for a position, and unlimited text fields for analyzing whether the position meets the more likely than not threshold described in FIN 48.

 

• Support Tab

This screen provides fields for entering hyperlink references to documents which support analysis of a tax position. The hyperlink feature allows users to store support in virtually any format, including documents, spreadsheets, Adobe pdf files, image files, internet addresses, e-mail, etc, and to share these documents across multiple related tax positions. Duplicate storage for related positions is not required.

• Measurement Tab

This screen provides a cumulative probability template for measuring the portion
of a tax position that may be recognized. It includes the following features:

 

1. Tracks multiple assessment date
2. Allows an analyst to assign probabilities and cumulative probabilities
   up to ten (10) outcomes for each tax position
3. Based on inputs, calculates the amount of the uncertain tax position
4. Provides an unlimited text field for explaining the basis of assigning probabilities and associated amounts
5. Includes control features to ensure percentages do not exceed 100%, totals foot and compute properly
   

• Interest & Penalties

This screen provides fields for recording key information regarding interest and penalties associated with an uncertain tax position, including the interest start date, interest end date, penalty start date, penalty end date, and estimates of the amount of interest and penalties.

 

• Reversal Tab

This screen is used to record expected reversals of timing positions. If the tax issue is not a timing position, the screen is not displayed.

 

• Tax Audit Tab

This screen is used to record other pertinent information pertaining to a position, such as information related to audit adjustments or control deficiencies.