Accounting for Income Taxes: Quarterly Hot Topics


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.

Explore content

Subscribe and archives

Subscribe to receive Accounting for Income Taxes: Quarterly Hot Topics directly via email.

Recent editions appear below; for older issues, please email a request to

January 2019

Tax law developments

  • US Federal
    • Treasury and the IRS recently issued proposed Treasury Regulations and Notices related to the Tax Cuts and Jobs Act (the “Tax Act”)
      • New IRC section 163(j) proposed regulations released
      • Foreign Tax Credit proposed Treasury Regulations released
      • Base Erosion Avoidance Tax proposed Treasury Regulations released
      • IRC sections 245A and 267A proposed Treasury Regulations released
  • US Federal Tax Accounting Methods and Periods
    • Beginning of construction rules issued for the energy investment tax credit
    • Final Treasury Regulations under IRC section 263A released
    • Notice 2018-99 provides guidance for parking expenses for qualified transportation fringe benefits
    • Investing in Qualified Opportunity Funds (qualified Opportunity Zone Incentive)
  • US Federal Financial Instruments
    • The commitment fees paid on a revolving loan as deductible in the year incurred upheld by the IRS
  • US Federal Employee Benefits
    • Notice 2018-97 released
  • US International
    • IRC section 956 proposed Treasury Regulations released
    • Notice 2019-01: previously taxed earnings and profits accounts guidance released
  • US Partnerships
    • IRC section 864(c) proposed Treasury Regulations released
  • US Multistate
    • New state judicial updates
      • California, Colorado, Illinois, Iowa, Kentucky, New Jersey, Ohio, Puerto Rico, Texas, Utah and Wisconsin
    • Multistate tax considerations of the Tax Act
      • Proposed IRC section 965 and GILTI Regulations may result in federal/state income tax differences
    • New legislative updates
      • Arkansas, Georgia, Iowa, Louisiana, Maine, Maryland, Massachusetts, Missouri, Montana, New York City, New Jersey, Oklahoma, Oregon, and South Carolina
    • Amnesty Voluntary Disclosure
      • New Jersey

Accounting Developments

  • FASB amends guidance on cloud computing arrangements
  • FASB discusses feedback on proposed disclosure requirements related to income taxes

Learn more

January 2019
Did you find this useful?