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Big Companies Continue to Oppose Disclosing Income Tax Details

June 27, 2019, 10:29 PM

Representatives from the largest U.S. businesses continue to push back on a plan from accounting rulemakers that would force them to reveal more details about their income taxes in their financial statements.

“We think the current tax disclosure framework works,” said Thomas Roos, chief accounting officer at UnitedHealth Group Inc., said at a meeting between the Financial Accounting Standards Board and representatives from major U.S. companies in White Plains, NY.

“What is this getting that we don’t have and who really needs this information?” Roos said of FASB’s proposal for more disclosures.

Roos’s reaction wasn’t unexpected. FASB in March ...