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.

Guide to Accounting for Income Taxes - 2013 second edition (June 2015)


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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In brief: FASB simplifies balance sheet classification of deferred taxes


On November 20, the FASB issued final guidance simplifying the balance sheet classification of deferred taxes.

In brief: FASB proposes new disclosures for government grants, some tax incentives


FASB proposes new disclosures for government assistance that may apply to certain arrangements to receive tax benefits.

FASB Accounting for Income Taxes Projects


The past year has seen considerable activity at the Financial Accounting Standards Board ("FASB") related to accounting for income taxes. The FASB has introduced several topics as part of its initiative to reduce complexity in accounting standards.

Podcast: Valuation allowance on deferred tax assets


Valuation allowances on DTAs can be confusing. Hear the guidance and some common misconceptions in plain English.

FASB redeliberates two proposed Accounting Standards Updates ("ASU")


FASB redeliberates two proposed Accounting Standards Updates on ASC 740.

Global Tax Accounting Services Newsletter: Income tax accounting and reporting developments (July - September 2015)


Designed to help multinationals stay aware of tax accounting and regulatory developments under US GAAP and IFRS, whilst providing technical guidance on challenging tax accounting areas.

The quarter close: Directors edition Q3 2015


This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues.

Accounting for income taxes in cross-border transactions (Observations from the front lines)


The acquisition of a foreign business can introduce complex financial reporting challenges when accounting for income taxes.

Financial statement presentation guide - 2014 second edition (July 2015)


PwC's popular Financial statement presentation guide addresses U.S. GAAP presentation and disclosure requirements of common balance sheet and income statement accounts.

Tax accounting retrospective: February to June 2015


As part of our continued effort to help organizations navigate through the complexity of today’s tax accounting issues, we've assembled a compilation of our Tax Accounting Services’ publications released between February and June 2015.