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Income tax accounting and Tax reform

Accounting considerations of US tax reform

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Income taxes (partially updated in May 2018)

Our guide reflects recent developments in US GAAP including tax reform

Tax reform accounting in interim reporting periods

Areas of US tax reform that may impact quarterly financial reporting

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.

To learn more about Tax Accounting Services visit us here

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Richard Levin
US Tax Accounting Services Leader, PwC US
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Jennifer Spang
Partner, National Professional Services Group, PwC US
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Chad Kokenge
Managing Partner, Capital Markets and Accounting Advisory Services, PwC US
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Income tax accounting and Tax reform

Accounting considerations of US tax reform

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Income taxes (partially updated in May 2018)

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Tax reform accounting in interim reporting periods

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Accounting considerations of US tax reform

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Income taxes (partially updated in May 2018)

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Tax reform accounting in interim reporting periods

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Tax reform: Impact on compensation matters

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Tax reform readiness: Q3 financial reporting considerations

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