Income tax

Accounting for income taxes is a perpetual hot topic in the U.S. The overall accounting model for income taxes has been in place for many years, yet the accounting for income taxes continues to pose many challenges for preparers, users, and auditors.

Among those challenges are:

  • tax accounting rules for valuation allowance,
  • intraperiod allocation,
  • interim periods,
  • business combinations, and
  • foreign operations.

The ever-changing landscape of income tax law requires analysis on a continuous basis across multiple jurisdictions. In addition to being complex, the relevant accounting standards contain many nuances, and applying the standards oftentimes involves significant judgments.

Video perspective

UTP what? Are you uncertain about the accounting for Uncertain Tax Positions (UTPs)?  PwC’s Kassie
Bauman translates the tax talk into plain english with easy to follow examples.  Listen in to learn
what an uncertain tax position is, how they relate to uncertain tax benefits, and how they are monitored
and resolved.

 

Guide to Accounting for Income Taxes - 2013 third edition (November 2016)

11/15/16

The accounting for income taxes (ASC 740) continues to pose many challenges for preparers, users, and auditors. This PwC guide is intended to clarify the fundamental requirements involved in the accounting for income taxes.

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Connecting the dots: Tax accounting and the business environment

11/30/16

In this recorded webcast, we discuss how changes in business and recent legislative and standard-setting developments can have a significant impact on tax accounting.

Guide to Accounting for Income Taxes - 2013 third edition (November 2016)

11/15/16

The accounting for income taxes (ASC 740) continues to pose many challenges for preparers, users, and auditors. This PwC guide is intended to clarify the fundamental requirements involved in the accounting for income taxes.

Potential tax considerations associated with the new leasing standard

11/15/16

Potential tax considerations associated with the new leasing standard.

Financial statement presentation - 2016 edition

11/10/16

PwC describes in detail the financial statement presentation and disclosure requirements of common balance sheet and income statement accounts.

In depth: New tax regulations may affect the accounting for intercompany transactions

11/03/16

New Section 385 tax law may impact financial statements and internal controls for US companies with foreign intercompany debt.

The new FASB guidance will significantly change income tax accounting for intra-entity asset transfers, except for inventory

10/31/16

The FASB issues new guidance for intra-entity transfer of assets other than inventory.

Income taxes: Uncertain tax positions, fundamentals

10/19/16

UTP what? Are you uncertain about Uncertain Tax Positions? Watch now to learn the basics.

Swiss Corporate Tax Reform III – Impact on Financial Statements (US GAAP and IFRS)

10/18/16

On 28 June 2016, Switzerland published the federal corporate tax reform III package (CTR III) that would abolish the existing cantonal privileged tax regimes and would allow cantons to introduce new internationally accepted tax measures (e.g., patent box, notional interest deduction).

New Section 385 regulations significantly limit scope

10/14/16

US Treasury and the IRS yesterday released final and temporary Section 385 regulations, which address whether certain instruments between related parties are treated as debt or equity.

Episode 17: FASB Standard setting update, Q3 2016

10/12/16

Want an easy way to stay current on standard setting? Listen now for a third quarter update.