Tax accounting developments

Timely information on tax accounting related developments including significant federal, state, local, and foreign legislative developments.

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Keep in the know - December 2016 major tax law changes

Summary of major tax law changes that occurred around the world in December 2016

Read about major tax law changes 

All tax accounting developments

Global Tax Accounting Services Newsletter: Income tax accounting and reporting developments (April - June 2016)

This publication is designed to help multinationals stay aware of tax accounting and regulatory developments under US GAAP and IFRS, while providing technical guidance on challenging tax accounting areas. This edition features significant tax law changes around the globe, key aspects of income tax accounting under IFRS and US GAAP for foreign currency movements and transactions, and more.

Around the world: When to account for tax law changes

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. Naturally, changes in tax law have an impact on tax planning, tax return preparation and, ultimately, tax cash flows. Those consequences, however, are often preceded by the impact of such changes on company financial reporting.

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

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.

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Richard Levin
US Tax Accounting Services Leader

Jennifer Spang
Partner, National Professional Services Group

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