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.

 

Continued areas of focus/challenge

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.

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Video perspectives

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.

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Income taxes: Uncertain tax position, fundamentals

 

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Income taxes

Income taxes

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.

Connecting the dots: Tax accounting and the business environment

Connecting the dots: Tax accounting and the business environment

Watch this webcast

The FASB issues new guidance for intra-entity transfer of assets other than inventory.

Tax Accounting

The new FASB guidance will significantly change income tax accounting for intra-entity asset transfers, except for inventory

View more insights on income tax

 

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Richard Levin
US Tax Accounting Services Leader
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Jennifer Spang
Partner, National Professional Services Group
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