Income tax accounting

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.

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Where should I start?

31 October 2021

1.1 Chapter overview—scope of ASC 740

Accounting Standards Codification (ASC) 740, Income Taxes addresses how companies should account for and report the effects of taxes based on income. While

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US Income taxes guide 1.1

30 October 2021

5.1 Chapter overview—valuation allowance

Evaluating the need for and amount of a valuation allowance for deferred tax assets often requires significant judgment and extensive analysis of all the

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US Income taxes guide 5.1

30 October 2021

16.1 Overview—accounting for income taxes in interim periods

ASC 740-270, Interim Reporting, prescribes the use of an estimated annual effective tax rate (ETR) for calculating a tax provision for interim periods.

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US Income taxes guide 16.1

30 October 2021

14.1 Chapter overview—separate financial statements of subsidiary

Intercorporate (or intra-entity) tax allocation (i.e., allocating income taxes to entities within a consolidated tax group) involves related parties and

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US Income taxes guide 14.1

30 October 2021

10.1 Chapter overview—income tax accounting for acquisitions

Business combinations often give rise to a variety of complicated issues when accounting for income taxes under ASC 740, Income Taxes. This chapter

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US Income taxes guide 10.1

30 October 2021

15.1 Chapter overview—accounting for uncertainty in income taxes

ASC 740 prescribes a comprehensive two-step model for recognizing, measuring, and disclosing uncertain tax positions.

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US Income taxes guide 15.1

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