Accounting for Income Taxes: 2014 Year-end Hot Topics

January 2015
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Accounting for Income Taxes: 2014 Year-end Hot Topics

At a glance

Accounting for income taxes has seen legislative and regulatory changes in the United States and abroad in 2014. These developments, combined with an environment of political and economic uncertainty, have added to the existing challenges in accounting for income taxes.

Calendar year 2014 has seen considerable activity in the legislative and regulatory landscapes both in the United States and abroad. These developments, combined with an environment of political and economic uncertainty, have added to the existing challenges in accounting for income taxes.

In our report, we review the following developments in accounting for income taxes:

  • Tax law developments
  • Standard setting updates
  • SEC comment letters
  • Uncertain tax positions
  • Valuation allowances
  • Indefinite reinvestment assertions
  • Financial instruments
  • Intercompany transactions
  • Foreign currency
  • Business combinations and disposals
  • Tax accounting method changes
  • Stock-based compensation
  • Taxes not based on income
  • Intraperiod tax allocation