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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Maura Webber SadoviThu, November 13, 2025 at 4:42 PM GMT+1 4 min readThis story was originally published on CFO Dive. 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The Financial Accounting Standards Board has averted political pressure to rescind income tax disclosure rules (Topic 740) issued in 2023, with the spending bill signed into law this week by President Donald Trump not including a provision tucked in an earlier proposal that threatened FASB funding if it did not withdraw the standard.   While FASB is an independent entity funded by accounting support fees paid by public companies, publishing revenue and investment income, a spending proposal released over the summer by House Republicans threatened to prevent the Securities and Exchange Commission from reviewing or approving FASB’s budget if the rule stayed in place. Asked by a reporter during a wide-ranging press briefing Wednesday if there’s any possibility that the standard would be withdrawn should it come under serious pressure, FASB Chair Richard Jones did not explicitly rule out such an action but side-stepped the controversy and held firm to the standard-setter’s rule-making process.“I can’t speculate, I can tell you we have that standard, it’s out, it’s issued, it’s effective and companies will be adopting it in this year’s year-end financials,” Jones said, noting too that the standard setting on the project is done but that the board is “always happy” to talk about the standards it sets and the reasons it sets them.  “I view that we have one role and one role only — it’s financial accounting reporting to facilitate the capital markets,” Jones said. “That’s what we focus on, that’s what we do but we’re always happy to engage with people about any concerns about our standards.” FASB spokesperson Christine Klimek said in an email Thursday that the FASB has not recently received any formal request from lawmakers seeking to withdraw the income tax standards. Formal requests to change standards are typically handled through the board’s agenda request process.   Klimek also said SEC reviews FASB’s budget, after which the SEC issues an order “to the effect that the annual accounting support fee for the FASB is consistent with Section 109 of SOX.”The income tax disclosure standards drew the spotlight again this year just as public companies are faced with their first year of compliance. 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