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Financial Reporting Alert 18-1, Frequently Asked Questions About Tax Reform

Published on: Jan 03, 2018

This Financial Reporting Alert contains responses to frequently asked questions (FAQs) about how an entity should account for the tax effects of the new tax reform legislation in accordance with ASC 740. Since its initial release on January 3, 2018, the Financial Reporting Alert has been updated to conform with recent developments, including views expressed at the FASB’s meeting on January 10, 2018, FASB staff guidance issued on January 11, 2018, and a proposed Accounting Standards Update issued on January 18, 2018. While the answers to the FAQs reflect our views at this time, those views are subject to change on the basis of additional guidance, input received, or further developments in practice. We plan to frequently update the Financial Reporting Alert to reflect developments as they occur and as additional questions surface.

This publication was released by our US firm.


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