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 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.

Read more

Income taxes: Uncertain tax positions, fundamentals


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)


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


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.

Podcast: FASB Standard setting update, Q3 2016


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

PwC quarterly tax accounting - Webcast replay


In this recorded webcast a panel of our Tax Accounting Services specialists discuss relevant tax accounting matters.

PwC comments on the FASB’s proposed income tax disclosures


PwC supports most aspects of the FASB’s proposed changes to income tax disclosures, but detailed some areas needing improvement.

Income tax accounting and reporting developments (July - September 2016)


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 2016


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

The FASB proposed changes to income tax disclosure requirements. How will these changes impact your organization?


On July 26, 2016, the FASB (or the Board) issued a proposed Accounting Standards Update (ASU), Disclosure Framework

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.