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Accounting for Income Taxes — Quarterly Hot Topics: September 2017

Published on: Sep 28, 2017

Accounting developments

  • Heads Up — FASB Makes Targeted Changes to Guidance on Accounting for Certain Financial Instruments With Down-Round Features

Tax law developments

  • U.S. Federal
    • Disgorgement payments made by defendants in enforcement actions brought by the U.S. Securities and Exchange Commission
    • Notice 2017-36 delays application of Section 385 documentation regulations
    • Federal research tax credit safe-harbor based on ASC 730 costs
  • Multistate
    • California, Illinois, New Hampshire, North Carolina, Texas
    • Amnesty/Voluntary Disclosures
      • Multistate Tax Commission
      • Ohio, Rhode Island, Texas, Virginia
    • IRS Conformity
  • International
    • Germany: Restriction on deductibility of royalty payments enacted
    • Australia: Chevron withdraws appeal to the High Court in Australia in landmark transfer pricing case
  • On the Horizon
    • Multistate Tax Commission
    • State Conformity to Federal Provisions — Exploring the Variances
    • Oregon
    • France: Supreme Administrative Court issued two preliminary decisions involving the application of the foreign tax credit
    • OECD: Draft of 2017 update to model tax treaty released

Did you know

  • Financial Reporting Alert 17-6, Financial Reporting Implications of Disasters
  • State Enterprise Zone Programs

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