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Income tax accounting and Tax reform

Featured - 3 items

FASB simplifies accounting for income taxes

We summarize the FASB's new guidance

Income taxes (updated in May 2020)

Our guide reflects recent developments in US GAAP including tax reform

Tax readiness: Q3 financial reporting matters

Accounting for income taxes is a perpetual hot topic in the U.S., posing many challenges for preparers, users and auditors, particularly in the wake of tax reform.

Continued areas of focus/challenge

Among those challenges are:

accounting for the impact of tax reform, including changes in tax rates and other provisions in the Tax Cuts and Jobs Act including deemed repatriation and more
tax accounting rules for valuation allowances,
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.

Listen in to our tax foundations podcast series below

To learn more about Tax Accounting Services visit us here

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Richard Levin

US Tax Accounting Services Leader, PwC US

Jennifer Spang

Partner, National Professional Services Group, PwC US

Income tax accounting and Tax reform

Featured - 3 items

FASB simplifies accounting for income taxes

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Income taxes (updated in May 2020)

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Tax readiness: Q3 financial reporting matters

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Listen in to our tax foundations podcast series below

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Featured - 3 items

FASB simplifies accounting for income taxes

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Income taxes (updated in May 2020)

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Tax readiness: Q3 financial reporting matters

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Continued areas of focus/challenge

Listen in to our tax foundations podcast series below

Follow our podcast

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Related content

Tax accounting services (TAS)

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PwC's Tax Playlist

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Tax readiness: Q3 financial reporting considerations

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