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Accounting Roundup — Special Edition — Annual update on accounting for income taxes

Published on: Jan 27, 2015

This special edition of Accounting Roundup summarizes significant developments that have affected the accounting and financial reporting for income taxes over the past year. Topics covered in this publication include:

  • The expiration of various federal tax credits at the end of 2014.
  • The continuing efforts of state, local, and international tax authorities to reform tax law.
  • Topics that the SEC focuses on when reviewing a registrant’s income tax accounting and related disclosures.
  • Recently issued ASUs that affect the presentation of unrecognized tax benefits, the accounting for certain types of investments in low-income housing tax credits, and the tax implications of the new goodwill accounting option for private companies.
  • The FASB’s simplification projects related to income taxes and share-based compensation.


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