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.

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March 2017

Accounting Developments

  • FASB amends guidance on derecognition and partial sales of nonfinancial assets
  • FASB continues discussions on updates to income tax disclosure requirements

Tax law developments

  • Tax law developments – Overview, intra-period allocation of tax expense, uncertain tax positions, and classified balance sheet
  • US Federal – Notice 2017-06: Extension of eligibility waiver for certain method changes to comply with the final tangible property regulations
  • US Federal – Tax Court rejects capital gain treatment on forfeited deposit from cancelled sale of property
  • US Federal – Temporary regulations under section 721(c); Limitations on tax-free contributions of appreciated property to a partnership
  • International – UK’s Written Notification to Leave the EU
  • On the horizon – Tax policy decisions ahead
  • US Multistate – California, Massachusetts, Michigan, New York, Pennsylvania, Texas, Virginia, District of Columbia, and IRC Conformity

Did you know?

  • Measurement when contingent phased-in changes in tax rates are enacted

Learn more

March 2017
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