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Perspectives
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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Recent editions appear below; for older issues, please email a request to ustaxnews@deloitte.com.
October 2018
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”)
- IRC section 965: Transition tax proposed Treasury Regulations released
- IRC section 168: 100% bonus depreciation proposed Treasury Regulations released
- Notice 2018-68: Executive compensation deduction limitation Notice released
- IRS clarifies application of proposed Treasury Regulations on treatment of certain payments made in exchange for state and local tax credits to business taxpayers
- Global Intangible Low Taxed Income proposed Treasury Regulations released
- Treasury and the IRS recently issued proposed Treasury Regulations and Notices related to the Tax Cuts and Jobs Act (the “Tax Act”)
- US Federal Tax Accounting Methods and Periods
- CCA memorandum decision on success-based fee deduction and safe harbor election
- Multistate
- Recent US Supreme Court decision – Wayfair
- New state judicial updates
- Maryland, Massachusetts, New Jersey, Oregon, Texas and Wisconsin
- New legislative updates
- Alaska, Florida, Missouri, New Jersey, North Carolina
- Multistate tax considerations of the Tax Act
- Alabama, Connecticut, Georgia, Hawaii, Idaho, Indiana, Kentucky, Maine, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Carolina, North Dakota, Oregon, Pennsylvania, City of Philadelphia, Rhode Island, Utah, and Vermont
- Amnesty Voluntary Disclosure
- Indiana and New Jersey
- International
- Argentina: Classification as a highly inflationary economy under US GAAP
- Did You Know?
- Accounting for when the country in which a foreign entity operates becomes highly inflationary
- Multistate tax considerations associated with IRC section 163(j) and Notice 2018-28
- Accounting Developments
- FASB releases targeted improvements to ASC 842
- Accounting Standards Update Number 2018-09 – Codification Improvements
Learn more
- REMINDER: Tax Act signed into law
- Tax Accounting Conference
- A Roadmap to Accounting for Income Taxes
October 2018
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