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Accounting for Income Taxes — Quarterly Hot Topics: March 2015

Published on: Apr 06, 2015

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’s accounting for income taxes project.
  • FASB’s disclosure framework project — income taxes.
  • FASB’s employee share-based payment accounting improvements project.

Tax law developments

  • Tax law developments — overview, uncertain tax positions, classified balance sheet, and tax expense.
  • International — international income tax developments.
  • Periods and methods — updated accounting method change procedures and allowable automatic changes.
  • Periods and methods — treasury proposes new rules governing research credits for software development expenses.
  • U.S. Federal — Treasury issues proposed amendments to the consolidated return regulations and next day rule.
  • U.S. Multistate — Arizona, District of Colombia, Massachusetts, New York, and New York City.

Looking forward

  • Looking forward — overview.
  • “Tax haven” proposals in Kentucky, Maine, Massachusetts, and New Hampshire.

Did you know?

  • Balance sheet effects of the interim provision for income taxes.

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