Accounting for Income Taxes

Quarterly Hot Topics

Accurate and compliant income tax accounting is fundamental for financial reporting. Evolving regulations, legislative changes, and shifting business environments create a dynamic landscape, where staying informed is crucial. The Accounting for Income Taxes Quarterly newsletter brings to you recent tax and accounting developments that may have accounting for income tax (ASC 740) implications. Subscribe now and join the growing community of professionals who rely on Deloitte's Accounting for Income Taxes Quarterly to stay up-to-date on the latest tax accounting developments, including regulatory updates, legislative changes, and court rulings.

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The January issue of Accounting for Income Taxes: Quarterly Hot Topics is live! This issue discusses several important tax developments and related ASC 740 considerations.

January 2024

In this edition:

1. Tax Developments:

  • US Federal:      
    • JCT releases “Blue Book” for tax legislation enacted in 117th Congress
    • Treasury and IRS release additional corporate AMT guidance (Notice 2024-10)
    • Notice 2023-80 lays out interaction of Pillar Two and foreign tax credits and more…
  •  US Multistate:
    • California court declares Franchise Tax Board P.L. 86-272 guidance invalid
    • Massachusetts enacts significant tax legislation, including adoption of single sales factor in 2025
    •   New York corporate income tax regulations published December 27, 2023 and more…
  • International:
    • Pillar Two: Minimum tax implementation handbook published and more…

2. Accounting developments:

Updated: Deloitte’s Roadmap: Income Taxes

3. Up-C structure services


Visit the Accounting for Income Taxes Quarterly page on to access this newsletter as well as previous issues to stay up to date on income tax accounting updates.

January 2024

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