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Accounting for Income Taxes — Quarterly Hot Topics: March 2017

Published on: Apr 03, 2017

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 amends guidance on derecognition and partial sales of nonfinancial assets.
  • FASB continues discussions on updates to income tax disclosure requirements.

Tax law developments

  • Tax law developments — Overview, intra-period allocation of tax expense, uncertain tax positions, and classified balance sheet.
  • US Federal — Notice 2017-06: Extension of eligibility waiver for certain method changes to comply with the final tangible property regulations.
  • US Federal — Tax Court rejects capital gain treatment on forfeited deposit from cancelled sale of property.
  • US Federal — Temporary regulations under section 721(c); Limitations on tax-free contributions of appreciated property to a partnership.
  • International — UK’s Written Notification to Leave the EU.
  • On the horizon — Tax policy decisions ahead.
  • US Multistate — California, Massachusetts, Michigan, New York, Pennsylvania, Texas, Virginia, District of Columbia, and IRC Conformity.


Related Topics

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