Accounting for income taxes
Accounting for Income Taxes continues to be one of the leading causes of financial statement weakness, deficiencies and restatements. The critical audit matters communication in the auditor鈥檚 report continues to highlight the complexity and challenges companies have accounting for income taxes under ASC 740 and IAS 12.
Tax departments are expected to do more with less against the backdrop of accelerated reporting deadlines, business, legislative and regulatory changes, including adoption of new accounting standards, and global tax reform. These factors create a high-risk environment that tax leaders are required to manage.
The 乐鱼（Leyu）体育官网 national聽ASC 740 Tax Accounting and Provision Services (TAPS) offers a variety of integrated processes and technology solutions that can assist tax departments with their most complex challenges and needs through the deployment of highly technical experienced tax professionals, resident in 乐鱼（Leyu）体育官网 offices throughout the US. The US teams liaise with our international colleagues to bring a global delivery of service to meet the needs of tax departments of multinational companies. These services are supported by the 乐鱼（Leyu）体育官网 Washington National Tax Services group as well as our National Office.聽
Our technical knowledge
Tax Accounting and Provision Services bring a variety of experiences and solutions, technical analysis and transformation solutions to meet the needs of our clients.
Whether you are accounting for income taxes under US GAAP or IFRS, these services are tailored to meet your specific needs by assisting clients with:
- Preparation (review) of quarterly and annual income tax provision, including:
- accounting for uncertain tax positions,
- accounting for business combinations or discontinued operations,聽
- valuation allowance analysis,聽
- and fresh start accounting
- Co-source solutioning聽
- Tax process redesign
- SOX control redesign and remediation
- Data collection and management
- 鈥淥n-call鈥� accounting for income tax consultation
- Tax provision software implementation
- Loan staff
Tax provision scenarios are unique to each company. Our highly technical team brings a tailored approach to meet the specific business needs of each client we serve. TAPS is well equipped to tailor a solution to address the specific needs and objectives of your tax function.
