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Accounting for Income Taxes — Quarterly Hot Topics: December 2013

Published on: Dec 16, 2013

The latest issue of Accounting for Income Taxes — Quarterly Hot Topics discusses several important developments and ASC 740 implications. Topics covered in this edition:

Accounting Developments

  • Emerging Issues Task Force (EITF) reaches a final consensus on Issue 13-B, “Accounting for Investments in Qualified Affordable Housing Projects.”
  • FAF concludes post-implementation review of Statement 109.


  • Treasury issues final Section 382 “small shareholder” regulations (T.D. 9638).
  • Gross income exclusion for biodiesel mixture credits claimed under Section 6426(c) and payments received under Section 6427(e).
  • IRS reduces payment amount of refundable Alternative Minimum Tax (AMT) credits claimed under Section 168(k)(4) — IRS updates sequestration rate.


  • Mexico Tax Reform.
  • Puerto Rico issues technical amendments to Act 40 of 2013, the Tax Burden and Redistribution and Adjustment Act, including a clarification regarding the additional tax on gross income.


  • IRS memorandum provides implementation guidance for Appeals Judicial Approach Culture (AJAC) project.

Did You Know?

  • U.S. Tax Reform.


Related Topics

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