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?

Where should I start?

23 March 2021

Accounting for income taxes in interim periods: back to basics

Hear PwC walk through some of the key considerations and complexities in accounting for income taxes during interim periods.

In summary...

  • We start with a refresher on calculating the quarterly income tax provision.
  • We cover the key components of estimating an annual effective tax rate.
  • We hit on some exceptions and reminders to help you get through the quarter.
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US Podcast

30 November 2020

8.1 Liabilities — taxes

Both US GAAP and IFRS base their deferred tax accounting requirements on balance sheet temporary differences, measured at the tax rates expected to apply when the differences reverse. Discounting of deferred taxes is also prohibited under both frameworks.

In summary...

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US IFRS & US GAAP guide 8.1

06 October 2020

What global tax initiatives could mean for your company

Tune-in to find out what's behind the OECD’s base erosion and profit shifting project and what it all means for financial statement preparers.

In summary...

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US Podcast

02 April 2020 | Updated 14 January 2021

FAQ on accounting for COVID-19 and market volatility

Our In depth addresses FAQs on a range of COVID-19 accounting impacts. This week we added a new question to the section on accounting for rent concessions.

In summary...

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US In depth 2020-02

31 May 2018

1.1 Chapter overview—scope of ASC 740

Accounting Standards Codidcation (ASC) 740, Income Taxes addresses how companies should account for and report the effects of taxes based on income. While the scope of ASC 740 appears to be self-explanatory, the unique characteristics of different ta

In summary...

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US Income taxes guide 1.1

30 May 2018

16.1 Chapter 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. This guidance focuses primarily on how to compute interim period tax provisions, but also includes

In summary...

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US Income taxes guide 16.1

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