Tax Accounting Services

Improvement and integration of tax accounting and reporting into the finance function has never been more important than it is today. Financial restatements due to errors in the tax accounts, coupled with increased regulatory scrutiny of tax-related balances and disclosures, have sharpened the focus on tax accounting and exposed significant challenges for many companies. These issues are further complicated by the continued compression of quarter and year-end financial reporting timelines, as well as the emergence of new reporting considerations such as Uncertain Tax Positions (UTP) or the globalization of International Financial Reporting Standards. Currently, many companies lack skilled tax accounting resources, in the US as well as overseas, to help them meet today's tax accounting and reporting challenges. In many cases, the strain of managing the increasing tax accounting and reporting burden has resulted in decreased employee morale and/or increased employee turnover.

How we can help

Our global network of tax accounting professionals can deliver a range of technical tax accounting services customized to your specific business needs and objectives. This will enable you to achieve better control over your tax accounting function and increase your ability to focus on more strategic aspects of your business. Our national and global network of specialized tax accounting resources can help you tackle a wide range of tax accounting needs, including:

  • Deferred tax validation projects
  • Tax basis balance sheet support
  • Remediation and restatement assistance
  • Financial statement carveout support
  • Uncertain tax position (FIN 48) consulting
  • Issue-specific tax accounting consulting — covering such topics as: valuation allowance assessments, business combinations, intraperiod allocations, and accounting for stock-based compensation
  • IFRS tax considerations

Impact on your business

By leveraging PwC's specialized tax accounting resources, your company may achieve better control over its tax accounting function, including:

  • Greater confidence in financial reporting of income taxes — minimizing quarter-end and year-end surprises
  • Reduced risk through improved controls and documentation
  • Increased collaboration within tax, as well as with the finance function and business units
  • Improved processes and efficiency

Gaining better control over your company's tax accounting function will also enable you to focus on more strategic aspects of your business.