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.

To learn more about Tax Accounting Services visit us here

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

 

Featured

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Income taxes

Income taxes

Our updated Income taxes guide brings all of the key US GAAP guidance into one publication to help you navigate this complex area of accounting.

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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