This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Accounting for Income Taxes — Quarterly Hot Topics: September 2014

Published on: Sep 30, 2014

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

  • FASB adds an income taxes project to its agenda.
  • FASB revisits proposed elimination of leveraged leases.
  • IASB proposes amendments to IAS 12.

Tax Law Developments

  • Tax law developments — Overview: Uncertain tax positions, classified balance sheet, and tax expense.
  • International — Chile tax reform bill approved by Congress.
  • International — France amended finance law for 2014 passed.
  • International — India’s Delhi high court clarifies tax consequences of indirect share transfers.
  • International — India — Budget for 2014–2015 passed (added in revised edition, October 2014).
  • International — Italy changes to IRAP tax rates enacted.
  • International — Puerto Rico tax law change.
  • U.S. Federal — U.S. anti-inversion developments.
  • U.S. Federal — IRS memorandum provides implementation guidance for Phase 2 of the Appeals Judicial Approach and Culture (AJAC) Project.
  • U.S. Federal — Final regulations on dispositions of depreciable property and general asset accounts.
  • U.S. Federal — Research and experimentation expenditures.
  • U.S. Federal — Final identified mixed straddle regulations to apply prospectively.
  • U.S. Federal — Public utility ratemaking developments.
  • U.S. Multistate — Alaska, California, Louisiana, Michigan, New York City, North Carolina, and Vermont.

Looking Forward

  • Looking forward — Overview.
  • India budget for 2014–15 announced.
  • Spain broad-based corporate tax reform proposed.
  • Switzerland draft legislation on Corporate Tax Reform III published.
  • OECD releases guidance on transfer pricing issues.

Learn More

  • Register for financial reporting for taxes training.
  • Accounting for income taxes — Global tax developments.
  • Example disclosure: Accounting for income taxes.
  • Example SEC comments: Income taxes.
  • International Core of Excellence (ICE) 2014 Country Essentials.

Download

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.