Final CNS AR 2020 - Flipbook - Page 57
Taxes (ASC 740), a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the
position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis
of the technical merits.
We record unrecognized tax benefits as liabilities in accordance with ASC 740 and adjust these liabilities when our
judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of
some of these uncertainties, the ultimate resolution may differ from our current estimate of the unrecognized tax benefit
liabilities. These differences are reflected as increases or decreases in income tax expense in the period in which new
information becomes available.
Recently Issued Accounting Pronouncements
See discussion of Recently Issued Accounting Pronouncements in Note 2 of the consolidated financial statements.