Tax

Keep informed about various tax developments

Tax function effectiveness

6/17/14 | Assurance services

PwC's Tim Lapetina and Steven Schaefer discuss the challenges of today's tax environment and how to make a strong tax function. Watch the video

  • Tax accounting insights
    Global Tax Accounting Services Newsletter (April– June 2014) - follow recent global accounting and reporting developments

    7/23/14 | Tax accounting services

    In this release we discuss a variety of global accounting, reporting and tax law in the quarter ended 30 June 2014.

  • Webcast
    PwC's quarterly tax accounting webcast - Q2 2014 – July 8, 2014

    Tax accounting services

    PwC invites you to join a panel of our Tax Accounting Services (TAS) specialists for a discussion of relevant tax accounting matters including the indefinite reinvestment assertion, the recently issued revenue standard, as well as regulatory and legislative development updates.

  • Video
    Tax function effectiveness

    6/17/14 | Assurance services

    PwC's Tim Lapetina and Steven Schaefer discuss the challenges of today's tax environment and how to make a strong tax function.

  • Assessing Tax 2014: Tax rate benchmarking study for industrial products and automotive sectors

    6/16/14 | Industrial products

    Assessing Tax 2014 provides a detailed analysis of tax rate metrics for 324 companies and highlights tax trends for aerospace and defense, automotive, chemicals, engineering and construction, industrial manufacturing and metals, and transportation and logistics companies. This issue includes a special report on the surge in international tax controversy.

  • Analysis of tax developments worldwide - June 2014 edition

    6/4/14 | Global tax services

    This newsletter covers international tax issues including legislative changes, case law and treaty changes.

  • EPA releases proposed regulations for carbon emissions from existing electricity generation units

    6/3/14 | Washington national tax services (WNTS)

    The EPA released proposed regulations under the Clean Air Act that would for the first time set carbon emissions reduction targets for existing US electric power plants.

  • New FASB, IASB revenue recognition rules could have significant US tax implications

    6/3/14 | Washington national tax services (WNTS)

    The Financial Accounting Standards Board and International Accounting Standards Board have published their long-awaited joint revenue recognition standard.

  • Tax & Investment in the US: Key tax developments for global companies operating in the US

    6/3/14 | US tax services

    What tax issues are potentially affecting companies investing in the USA today?

  • Insights: Establishing a private foundation brings both responsibilities and rewards

    5/28/14 | US tax services

    For individuals contemplating substantial charitable contributions, private foundations may provide a structure to create a legacy of charitable giving.

  • Proposed regulations on the definition of real property for REITs

    5/28/14 | Asset management

    On May 9, 2014, the IRS released proposed regulations (“Proposed Regulations”) which are intended to clarify the definition of “real property” for purposes of the asset tests applicable to real estate investment trusts (“REITs”). The IRS’s expectation is that taxpayers will be able to utilize the additional guidance in the proposed regulations to analyze whether their assets qualify as real property in lieu of seeking private letter rulings.

  • Asset classes in the alternatives industry – What’s hot, what’s not

    5/28/14 | Asset management

    This document summarizes the issues discussed during PwC’s webcast, Asset classes in the alternatives industry – What’s hot, what’s not.

  • Tax accounting insights
    Global Tax Accounting Services Newsletter (January–March 2014)

    4/30/14 | Tax accounting services

    In this release we discuss a variety of global accounting, reporting and tax law developments in the first quarter of 2014, and the related tax accounting considerations.

  • Final rules describe ACA health coverage reporting requirements for 2015

    4/23/14 | Human resource services

    Final regulations on ACA reporting requirements give needed guidance to employers and insurers who must report to the IRS about 2015 health coverage.

  • Tax accounting insights
    New York tax reform: Tax accounting considerations

    4/11/14 | Tax accounting services

    On March 31, 2014, New York Governor Andrew Cuomo signed the state’s fiscal year 2014-2015 (FY 14-15) executive budget legislation.

  • Webcast
    Trends in Workforce Analytics - including the latest results from PwC Saratoga's US Human Capital Effectiveness Report - May 6, 2014

    US tax services

    In this webcast we will discuss business leaders recognize that talent is a critical enabler to achieving their business strategies, and recognize that better information about their workforce is mandatory for decision making. Improving workforce analytics capabilities enables HR organizations to address leadership's need for robust information. Saratoga benchmark results for 2014 suggest, however, that real improvement opportunities still need to be made for most organizations.

  • The unique challenges facing US inbound companies

    3/26/14 | US tax services

    Joel Walters, inbound tax leader for PwC US, explores how in-house teams can successfully navigate the new corporate tax landscape in light of increased scrutiny on tax planning processes, reporting requirements, and compliance initiatives.

  • Impact of recent legislative proposals on US inbound companies

    3/26/14 | US tax services

    Summary of the US inbound-specific provisions of the Camp discussion draft and the Administration’s FY 2015 budget proposal.

  • Insourcing Survey 2014

    3/25/14 | US tax services

    PwC and the Organization for International Investment (OFII) kickoff the release of the 2014 Insourcing Survey with events in Seattle and Detroit this week. Drawing attention to the critical role foreign direct investment plays in states across the country, the release will feature Governor Inslee of Washington state and Governor Snyder of Michigan. This survey provides valuable insight on the current business environment for foreign companies to create jobs in the United States, as well as policy priorities that impact US competitiveness for cross-border investment.

  • Patent Box in the EU - it's business as usual

    3/6/14 | US tax services

    Patent Box in the EU - it's business as usual

  • Obama Administration FY 2015 budget focuses on tax reform, deficit reduction, and new initiatives

    3/6/14 | Washington national tax services (WNTS)

    President Obama has submitted to Congress a $3.09 trillion federal budget for Fiscal Year 2015. Like last year's budget, revenue proposals in the President's FY 2015 budget are separated into three categories - business tax reform, deficit reduction, and offsets for certain tax relief proposals and new programs.

  • Ways and Means Chairman Camp releases tax reform discussion draft

    2/27/14 | Washington national tax services (WNTS)

    House Ways and Means Chairman Dave Camp (R-MI) has released a 979-page draft 'Tax Reform Act of 2014.'

  • Tax accounting insights
    Global Tax Accounting Services Newsletter (October-December 2013)

    2/21/14 | Tax accounting services

    In this release we discuss a variety of global accounting, reporting and tax law developments and the related tax accounting considerations.

  • US and global information reporting and withholding: Looking ahead to 2014 and beyond

    2/10/14 | US tax services

    This Tax Insight serves as a high-level primer of information reporting and withholding requirements for 2014 and beyond.

  • Webcast
    PwC and SAP 2014 Webcast Series - Discussing the top issues companies are asking about Transfer Pricing - February 25, March 19, April 23

    Advisory services

    In the current economic and regulatory climate, transfer pricing implementation requires more attention than ever before, within both finance and tax teams as well as across a range of other stakeholders. It is no surprise that transfer pricing has become the top priority for any global company. You're invited to a webcast series with PwC and SAP discussing the main questions companies are asking about as it relates to their transfer pricing compliance strategy.

  • Tax accounting insights
    Tax accounting retrospective (July - December 2013)

    1/28/14 | Tax accounting services

    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 July 2013 and December 2013.

  • Navigating a path forward: 2014 Tax Legislative Outlook

    1/22/14 | Washington national tax services (WNTS)

    PwC's Washington National Tax Services (WNTS) offers a preview of the key tax policy issues facing the Obama Administration and Congress

  • Tax accounting insights
    Around the world: When to account for tax law changes

    1/21/14 | Tax accounting services

    Keeping track of tax law changes around the world has increasingly become a challenge for businesses. Companies are rapidly expanding their geographic footprint at a time when the evolution and developments in jurisdictional tax laws are undergoing nearly constant change.

  • Tax accounting insights
    How will recently expired US tax provisions affect your financial statements?

    1/20/14 | Tax accounting services

    How will recently expired US tax provisions affect your financial statements? Tax Accounting Considerations for Expired Tax Provisions

  • Tax accounting insights
    2014 Mexican tax reform package

    1/7/14 | Tax accounting services

    Tax accounting considerations of the 2014 Mexican tax reform package.

  • Tax accounting insights
    Accounting for Income Taxes: 2013 Year-end Hot Topics

    1/6/14 | Tax accounting services

    Calendar year 2013 has seen considerable activity across the global legislative and regulatory landscapes. We have seen changes to tax laws in several key territories, and certain legislative trends having a significant impact on income tax accounting. These developments, combined with an environment of economic uncertainty, have added to the challenges in accounting for income taxes.

  • Tax accounting insights
    Global Tax Accounting Services Newsletter (July to September 2013)

    12/23/13 | Tax accounting services

    In this release we discuss a variety of accounting and regulatory updates. We also draw your attention to some significant tax law and tax rate changes during the quarter ended 30 September 2013 and some important tax accounting considerations for mergers and acquisition transactions.

  • Tax accounting insights
    Income tax disclosure

    12/16/13 | Tax accounting services

    Numerous income tax accounting matters require the use of estimates, judgments, and other subjective information that can obscure the presentation in the financial statement accounts. Clarifying disclosures can enable users to gain a better understanding of the reporting entity’s income tax environment.

  • Tax accounting insights
    Financial Accounting Foundation completes review of accounting for income taxes

    12/4/13 | Tax accounting services

    Financial Accounting Foundation (FAF) completed its post-implementation review of Financial Accounting Standards Board Statement No. 109, Accounting for Income Taxes (FAS 109) (codified in Accounting Standards Codification Topic 740, Income Taxes).

  • HRS Insight: New pension accounting for insurance companies

    11/25/13 | Human resource services

    The National Association of Insurance Commissioners has changed employers’ accounting for pensions and other postretirement benefits.

  • Senate Finance Committee Chairman Baucus releases staff discussion draft on cost recovery and tax accounting reform

    11/21/13 | Washington national tax services (WNTS)

    This release follows the international tax reform discussion draft and tax administration reform discussion draft.

  • Senate Finance Committee Chairman Baucus releases tax administration reform discussion draft

    11/20/13 | Washington national tax services (WNTS)

    This release, the second in a series of staff tax reform discussion drafts, follows the November 19, 2013 discussion draft on international tax reform.

  • Senate Finance Committee Chairman Baucus releases international tax reform discussion draft

    11/20/13 | Washington national tax services (WNTS)

    The Finance staff international reform discussion draft ('discussion draft') proposes to repeal or modify the current deferral system.

  • 2014 Guide to Tax and Wealth Management

    11/19/13 | Private Company Services

    PwC's 2014 edition of Managing your wealth offers guidance on strategic tax planning, managing your portfolio, charitable giving, estate and gift planning, business succession planning and other wealth management topics.

  • How global tax reforms might impact ETF efficiency: A look at the implications for ETF strategy and structuring

    11/14/13 | Asset management

    Due to their low costs and potentially greater tax efficiency, ETFs offer a very efficient return to investors. ETFs’ tax advantages have contributed to their strong competitive position and growth. But a rapidly changing tax environment will present challenges as governments around the globe seek to bridge budget deficits. By staying on top of these changes, sponsors can mitigate adverse effects while remaining compliant with changing global tax laws.

  • 10Minutes
    10Minutes on transforming the tax function

    11/13/13 | US tax services

    It’s an opportunity hidden in plain sight. In 10Minutes on transforming the tax function, we discuss how the tax function is often overlooked as an area for improvement, unlike more obvious choices such as supply chain or business services. However, shining a light on the tax group can reveal untapped opportunities where changes in technology, process, people, and data can lead to benefits for the broader business.

  • Flexible spending accounts can now allow carryover of up to $500 to following year

    11/6/13 | Human resource services

    IRS has amended its rules for healthcare flexible spending accounts to permit carry over up to $500 per plan year rather than forfeit all unused funds

  • Shifting talent across borders? Tax and policy challenges can abound

    11/6/13 | International assignment services

    In the entertainment and media industry, the business necessity is that talent must be flexible and mobile, crossing borders seamlessly to get the job done. This article is intended to provide a non-exhaustive, broad summary of only some of the many tax and related policy challenges that may arise.

  • Tax accounting insights
    Tax holidays and other incentives: Determining the right accounting model

    10/15/13 | Tax accounting services

    This Tax accounting insight provides a comparison of the potentially relevant accounting models and highlights some of the factors to consider in determining which model applies.

  • Affordable Care Act reporting requirements — IRS’ first pass

    9/24/13 | Human resource services

    Employers and issuers will have new IRS reporting obligations as key players in implementing ACA health coverage mandates.

  • DOL clarifies that no penalties apply for failure to provide ACA notices about exchanges

    9/24/13 | Human resource services

    In a recent FAQ, the DOL confirmed that employers won't be subject to any fine or penalty for failing to provide a ‘Notice of Coverage Options’ to employees.

  • No pre-tax reimbursement for individual insurance under ACA; employee assistance programs OK

    9/24/13 | Human resource services

    The Obama Administration has released guidance about how the ACA market reforms apply to HRAs and other employer reimbursement programs, health FSAs and EAPs.

  • Tax technology: Creating a strategic asset

    9/19/13 | Industrial products

    How do manufacturing companies use technology in their tax functions? PwC and the Manufacturers Alliance for Productivity and Innovation (MAPI) surveyed more than 100 companies to uncover leading practices and challenges in applying technology to the tax function.

  • SEC releases guidance on pay ratio disclosure rules

    9/19/13 | Human resource services

    The 2010 Dodd-Frank Act included a provision requiring public companies to disclose the pay gap between chief executives and rank-and-file employees.

  • IRS recognizes legal marriages of same-sex couples for all federal tax and employee benefit plan purposes

    9/12/13 | Human resource services

    Same-sex couples legally married according to laws of a jurisdiction that recognizes same-sex marriage will be recognized married for all federal tax purposes

  • Proposed R&E deduction regulations include favorable guidance on depreciable property, other issues

    9/12/13 | Washington national tax services (WNTS)

    Newly proposed Section 174 regulations address several long-standing issues related to the deduction for research or experimental (R&E) expenditures.

  • Tax accounting insights
    Global Tax Accounting Services Newsletter (April to June 2013)

    9/12/13 | Tax accounting services

    In this release we discuss a variety of accounting and reporting developments and the related tax accounting considerations.

  • 2013 Fall legislative outlook: focus on tax reform

    9/10/13 | Washington national tax services (WNTS)

    Efforts to advance tax reform legislation move into a critical phase this fall.

  • Tax accounting insights
    Patent box and technology incentives: Tax and financial reporting considerations

    8/22/13 | Tax accounting services

    This publication discusses key tax and financial reporting considerations of patent box regimes and other technology incentives.

  • PwC's Pension/OPEB 2013 Assumption and Disclosure Survey

    8/14/13 | Human resource services

    PwC is pleased to share with you our Pension/OPEB 2013 Assumption and Disclosure Survey which presents our analysis of the 2012 year-end assumptions and disclosures under ASC 715-20, ASC 715-30, and ASC 715-60.

  • Accounting guides
    Guide to Accounting for Income Taxes - 2013 edition

    8/8/13 | Assurance services

    The overall accounting model for income taxes has been in place for many years, yet 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 and to highlight key points that should be considered before and after transactions are undertaken.

  • Key accounting method considerations for 2012 returns

    8/6/13 | Washington national tax services (WNTS)

    Filing a federal income tax return can cause a taxpayer to adopt a method of accounting, both in general and with respect to a specific item.  Accordingly, a taxpayer needs consider what accounting methods it intends to adopt prior to filing its return.

  • Tax accounting insights
    Revised exposure draft on leases may have significant tax accounting, state tax, and systems implications

    7/25/13 | Tax accounting services

    The FASB and the IASB issued a revised exposure draft on leases. Although the tax law regarding the treatment of leasing transactions remains unchanged, taxpayers should consider how the Exposure Draft will impact the computation of federal and state taxable income and deferred income tax assets and liabilities associated with their leases.

  • Administration delays reporting, enforcement of employer mandate for 2014

    7/3/13 | Washington national tax services (WNTS)

    The Obama Administration has announced that there will be an additional year before the mandatory employer and insurer reporting requirements under the Affordable Care Act (ACA) begin, and, accordingly, a one-year delay in enforcement of the employer mandate until 2015.

  • DOMA overturned: impact on income, estate, and gift taxes

    7/2/13 | Private Company Services

    The Supreme Court’s decision in United States v. Windsor removes the federal tax barriers to obtaining certain benefits.

  • Tax accounting insights
    FASB ratifies consensus on netting unrecognized tax benefits against loss or other tax carryforward assets

    6/26/13 | Tax accounting services

    The FASB ratified the accounting guidance proposed by the EITF consensus for Issue 13-C, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. We expect the final Accounting Standards Update (ASU) to be issued within the next few weeks.

  • Tax accounting insights
    Tax accounting implications of new French wage tax credit

    5/3/13 | Tax accounting services

    The new French legislation to encourage investment and create jobs will impact financial statement accounting.

  • Tax accounting insights
    Tax considerations relating to fair value accounting

    3/25/13 | Tax accounting services

    PwC has refreshed our 'Fair Value Accounting: Tax Considerations' publication (originally released in December 2008).

  • Foreign currency tax accounting

    10/18/12

    This publication addresses key considerations in applying U.S. GAAP with respect to foreign currency income tax reporting. It is designed to be a reference guide to explore tax accounting for foreign currency. It begins with the “basics” and relevant areas of focus when applying Accounting Standards Codification (ASC) 830, Foreign Currency Matters, and also discusses the application of ASC 740, Accounting for Income Taxes, to foreign currency.

  • Tax accounting insights
    Deferred taxes on foreign earnings: A road map

    9/6/12 | Tax accounting services

    Asserting indefinite reinvestment traditionally has been a widespread practice among multinational businesses. A majority of large companies make the assertion with respect to much, if not all, of their foreign earnings. To assist organizations in making this assertion, PwC has refreshed this publication (originally released in December of 2010).

  • Tax accounting insights
    Key areas of focus when accounting for income taxes during interim periods

    3/21/12 | Tax accounting services

    At the close of every quarter, companies recognize income tax expense or benefit in their respective quarterly financial statements in accordance with interim reporting guidance under FASB Accounting Standards Codification 740, Income Taxes (ASC 740). When applied, this accounting model can present formidable challenges to many companies and can sometimes produce unexpected results. This edition of Tax accounting insights highlights the "basics" as well as key areas of focus when accounting for income taxes during interim periods.

  • Tax accounting insights
    Income Tax Accounting, A comparative look between US GAAP and IFRS

    1/5/12 | Tax accounting services

    Significant differences continue to exist between the IASB's anf the FASB's income tax accounting models, notwithstanding ongoing convergence efforts. This PwC publication provides a comparative summary between standards and a closer look at seven significant differences -- tax basis, initial recognition, intercompany transactions, accounting for uncertain tax positions, allocating income taxes, share-based compensation, and investment in subsidiaries.

  • Tax accounting insights
    Tax accounting services: The impact of transfer pricing in financial reporting

    9/23/11 | Tax accounting services

    The topic of transfer pricing in relation to financial reporting is often associated with uncertain tax positions ù that is, the extent to which tax reserves may need to be recorded due to uncertainty with respect to tax return positions. However, transfer pricing can also have other important financial reporting implications. PwC's Tax accounting insights serves to highlight several important areas of financial reporting that can be affected by transfer pricing.

  • Tax accounting insights
    Seven principles to consider when preparing a tax provision for subsidiary or carve-out financial statements

    5/16/11 | Tax accounting services

    Income tax provision preparation for stand-alone subsidiary or carve-out financial statements is a challenging and complex area of practice. In completing these calculations, we believe it is important to have a consistent, thoughtful framework for addressing the many judgments involved in the process. To assist you with the preparation of separate company financial statements, PwC's Tax accounting insights presents "Seven principles to consider when preparing a tax provision for subsidiary or carve-out financial statements" publication.

  • Tax accounting insights
    IFRS, the current landscape for US tax executives

    1/9/11 | Tax accounting services

    The potential transition to IFRS in the United States has been an ongoing focus of the SEC over the past several years. As part of their current workplan, the SEC is analyzing the impact of IFRS on US issuers and whether, when, and how to incorporate IFRS into the US financial reporting system. In this Tax accounting insights, we inform US tax executives on the current landscape of IFRS, including the key tax considerations that may arise in the near-term

  • Tax accounting insights
    Tax indemnification arrangements: Navigating the financial reporting

    11/16/10 | Tax accounting services

    Income tax indemnifications are established in a variety of transactions, including business acquisitions, corporate spin-offs and initial public offerings (IPOs). Accounting for an income tax indemnification arrangement depends upon whether the company is obligated to the taxing authority, the relationship between the parties and the type of transaction.

  • Tax accounting insights
    Goodwill impairment testing: Tax considerations

    12/21/09 | Tax accounting services

    Goodwill impairment testing continues to be a challenging and complex area of practice. As companies perform goodwill assessments, tax considerations can play a critical role in the final conclusions. To assist you with your goodwill impairment testing, PwC has refreshed our Goodwill Impairment Testing: Tax Considerations publication (originally released in December 2009).

  • Tax accounting insights
    Debt restructurings and bankruptcy: Accounting, tax and FAS 109 considerations

    6/4/09 | Tax accounting services

    Current market conditions have precipitated efforts by companies, across industries and markets, to reduce or restructure their debt obligations.The transactions and events occurring in these settings can have significant and sometimes unique financial reporting consequences.This PwC publication provides an overview of these transactions and events from both a financial reporting and income tax perspective.

  • Tax accounting insights
    Stock option awards under IFRS: Tax accounting impacts earnings

    7/7/08 | Tax accounting services

    PwC analysis of the potential impact of IFRS on shared-payment stock plans. An IFRS conversion may affect cash taxes and affect financial reporting systems and processes.

  • Tax accounting insights
    More likely than not: A comparison of FIN 48 and the tax penalty standard

    6/2/08 | Tax accounting services

    Efforts intended to strengthen objectivity and transparency with respect to tax planning, compliance and conflict resolution have converged around the use of a MLTN (more likely than not) standard. This PwC publication explores the FIN 48's more likely than not (MTLN) standard on whether a position taken, or expected to be taken, in a tax return is more likely than not to be sustained.