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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.


Related Topics

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