Sec. 451(c) should be considered when structuring such M&A transactions — including special rules relating to short tax years of 92 days or less.
Deferred Income Taxes
FASB ASC Subtopic 740-10 requires that each tax position meet a more-likely-than-not test and that the tax benefits be correspondingly reduced if the result is not certain; it is important to understand the administrative issues and problems created by this requirement.
To facilitate the transition away from IBORs and minimize the resulting market disruption, the IRS issued the proposed regulations with an aim of reducing associated tax uncertainty and taxpayer burden.
FASB issued a standard that is designed to reduce cost and complexity in accounting for income taxes.
FASB issued a proposal that is intended to make accounting for income taxes less costly and complex.
The technical question and answer helps financial statement preparers account for the amount a partnership pays the IRS for previous underpayments of tax, interest, and penalties.
A new technical question and answer from the AICPA provides nonauthoritative guidance to help financial statement preparers account for the amount a partnership pays the IRS under these circumstances.
SEC allows companies to use reasonable estimates of their tax liability post-tax reform.
FASB is moving quickly to give financial statement preparers a targeted improvement in their accounting for effects of the new tax reform law.
FASB proposed a new standard that is intended to help organizations reclassify certain income effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.
FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act.
Companies may initially have difficulty determining the effects of the new federal tax law on their income tax reporting.
This article highlights a few ASC Topic 740, Income Taxes, tax matters companies have missed or overlooked in tax provisions.
FASB issued an accounting standard that is designed to simplify the financial reporting for the income tax consequences of intra-entity transfers other than inventory.
FASB issued a proposal Tuesday that would modify disclosures about income taxes that organizations are required to report on their financial statements.
The IRS asked for comments on what effect the new proposed financial accounting revenue recognition standards should have on taxpayers’ methods of accounting
FASB proposed two standards changes to Accounting Standards Codification (ASC) Topic 740, Income Taxes, that are designed to reduce complexity in accounting for income taxes.
A review panel has concluded FAS 109, addressing accounting for income taxes, generally achieves its purpose but may not have reduced complexity.
The Financial Accounting Foundation issued its Post-Implementation Review (PIR) Report on FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes.
A recent directive instructs LB&I examiners not to challenge the treatment of success-based fees incurred or paid in tax years ending before April 8, 2011, if the taxpayer capitalized at least 30% of the total success-based fees incurred on the transaction on its originally filed return.