I chose an article about a FASB (Financial Accounting Standards Board) proposal for more detailed tax disclosure requirements from U.S. publicly traded companies. Publicly traded companies are currently required to disclose their pretax net income and tax expense or benefit total between domestic and foreign transactions. They do not have to break these numbers down by country. "Under Wednesday's proposal, both public and private companies would have to break out the income taxes paid to authorities at the federal, state, and foreign levels for the year to date in both their quarterly and annual financial reports" (Maurer, 2022). Improved tax disclosure is important to financial statement users such as investors for the same reason that companies are fighting against the new FASB proposal. Increased transparency invites increased scrutiny. On one hand, investors argue they have a right to this information if they are considering investing in the company. On the other hand, U.S. companies want to keep some information private from competitors and regulators. Publicly traded U.S. companies also assert that the current tax disclosures provide enough information for investors to make sound financial decisions.