Your firm has been conducting tax research by looking at cases settled in federal courts as a means to decide what position to take when reporting this year's taxes. Based upon the outcome of existing tax law cases, and after consulting with the firm's auditors and attorney's, you feel there is a 75% chance that if your firm takes this tax position when it files its US tax return, the firm will be successful if the IRS challenges this tax position. The potential benefit from taking this position in the current year is material to the Balance Sheet and Income Statement. The tax benefit is an all or nothing tax benefit. Each of the tax law cases to date have also upheld 100% of the tax benefit claimed by other firms related to this tax position. a) With specific reference to the ASC for uncertain tax positions, summarize the accounting rules that apply.