Proposed ASU 2019-500 — Proposed Accounting Standards Update (Revised) 2019-500—Income Taxes (Topic 740)—Disclosure Framework—Changes to the Disclosure Requirements for Income Taxes (Revision of Exposure Draft Issued July 26, 2016)

The amendments in this proposed Update would modify the current disclosure requirements for income taxes. The proposed amendments would (1) remove disclosures that no longer are considered cost beneficial or relevant and (2) add disclosure requirements identified as relevant to financial statement users. The Board is issuing the amendments in this proposed Update as part of the disclosure framework project to improve the effectiveness of disclosures in the notes to financial statements by applying concepts in the FASB Concepts Statement No. 8, Conceptual Framework for Financial Reporting—Chapter 8: Notes to Financial Statements.

For more information, see the following:

Issued: March 25, 2019

Comments Due: May 31, 2019

The Exposure Draft identifies the Codification Sections that may be changed upon issuance of this guidance.

• 230-10-50-2
• 740-10-50-1
• 740-10-55-1
• 740-10-65-1
• 740-30-50-1