Accounting for Income Taxes Quarterly | Deloitte US | Tax


Accounting for Income Taxes

Quarterly Hot Topics

Accounting for Income Taxes Quarterly Hot Topics highlights certain recent tax and accounting developments that may have accounting for income tax (ASC 740) implications.

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December 2015

Accounting developments

- FASB to issue final standard on improvements to employee share-based payment accounting
- FASB to issue final standard on simplifying the equity method of accounting
- Leases – FASB agrees on effective date
- FASB to issue final standard on classification and measurement of financial instruments
- FASB makes tentative decisions about various income tax disclosure requirements
- FASB redeliberates income tax proposals related to intra-entity asset transfers
- FASB issues ASU on balance sheet classification of deferred taxes
- FASB proposes ASU to increase transparency of accounting for government assistance arrangements
- FASB’s proposed ASU states that omissions of immaterial disclosures are not accounting errors

Tax law developments

- Tax law developments – Overview, Uncertain tax positions, Classified balance sheet, and Tax expense
- International – International income tax developments
- International – US Tax Court’s Altera decision raises broader questions
- Controversy – Bipartisan Budget Act 2015 cause significant rule changes to partnership audits and adjustments
- Periods and methods – Tax extenders bill becomes a law
- US Multistate – Alabama, California, Connecticut, District of Columbia, Michigan, New Hampshire, New York State, Pennsylvania, Texas

Did you know?

- Presentation of deferred federal income taxes associated with deferred state income taxes

Learn more

- A Roadmap to Accounting for Income Taxes
- Mark your calendar – Financial Reporting for Taxes Training: May 23 – 27 in Orlando, FL and December 5 – 9 in Las Vegas, NV
- SEC Comment Letters – Including Industry Insights: What “Edgar” Told Us
- Example Disclosure: Accounting for Income Taxes
- Example SEC Comments: Income Taxes
- International Core of Excellence (ICE) 2015 Country Essentials

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Katy Hollister

Chief Strategy Officer | Business Tax Services


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