Accounting for Income Taxes: Quarterly Hot Topics

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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December 2016

Accounting developments

  • FASB simplifies accounting for the tax consequences of intra-entity asset transfers

Tax law developments

  • Tax law developments: Overview, uncertain tax positions, classified balance sheet, and intra-period allocation of tax expense
  • International: New Section 987 Regulations
  • International: Final and Proposed Subpart F Regulations Addressing Section 956 and the Active Rents and Royalties Exception
  • International: Temporary and Proposed Regulations address covered asset acquisitions under Section 901(m)
  • International: Final section 367(a)/(d) regulations retroactively prevent tax-free outbound transfers of foreign goodwill and going concern value
  • International: Triangular reorganizations involving foreign corporations and inbound nonrecognition transactions
  • US Federal: Final and temporary regulations under Sections 385
  • US Federal: Treasury and IRS publish final, temporary, and proposed regulations modifying the rules of disguised sales and allocation of partnership liabilities
  • US Multistate: California, Mississippi, New York, and Texas

Did you know?

  • FASB simplifies accounting for the tax consequences of intra-entity asset transfers

Learn more

December 2016
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