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Accounting for Income Taxes — Quarterly Hot Topics: March 2016

Published on: Apr 04, 2016

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 new standard brings most leases onto the balance sheet
  • FASB amends guidance on classification and measurement of financial instruments
  • FASB simplifies the accounting for share-based payments
  • Disclosure framework – FASB makes tentative decisions about income tax disclosure

Tax law developments

  • Tax law developments – Overview, Uncertain tax positions, Classified balance sheet, and Tax expense
  • International – International income tax developments
  • US Federal – Final regulations under Sections 367, 1248 and 6038B
  • US Federal – Treasury and IRS publish temporary regulations modifying the rules applicable to the allocation of creditable foreign tax expenditures by partnerships
  • US Federal – Revenue Procedure 2016-13: IRS updates penalty guidance for return disclosures
  • US Federal – District court strikes down Puerto Rico’s corporate AMT
  • US Multistate – California, Colorado, Delaware, Georgia, Idaho, Illinois, Iowa, Louisiana, Maine, Massachusetts, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Virginia, West Virginia


Related Topics

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