All Income Tax articles

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    Molson Coors recalls bad batch of earnings figures


    After discovering a bad batch of accounting, Molson Coors Brewing Co. has restated financials back to 2016 to unravel improperly reported earnings.

  • Blog

    IRS issues new guidance on changing revenue method


    Now that companies are following new accounting methods to reflect revenue in financial statements, the Internal Revenue Service is offering new guidance on reflecting income in tax filings.

  • Blog

    FASB plans to change income classification under tax law


    The FASB has decided it will fast-track a change to accounting rules to allow reclassification of the income tax effects of the recent tax reform law.

  • Blog

    FASB considers guidance on accounting for tax reform


    FASB is considering whether to take up any new rulemaking as a result of the accounting consequences of the Tax Cuts and Jobs Act.

  • longlist

    Add tax to the growing list of revenue recognition crises


    Just as tax is the last thing to happen in a financial statement close, it seems to be the last thing happening in preparing for the new revenue rules as well.

  • TaxAccounting

    FASB proposal would target income tax disclosures


    FASB proposed a change to the disclosure requirements under Topic 740 in the Accounting Standards Codification that would require public companies to add nearly a dozen new items to their existing income tax disclosures, including income or losses from continuing operations along with income tax expense or benefit, separated by ...

  • Blog

    FASB Proposes Simplifications to Income Tax Accounting


    The Financial Accounting Standards Board has issued two proposed accounting standard updates to simplify the accounting for income taxes. One would simplify accounting for the tax effects of intra-entity asset transfers, while the other focuses on the classification of deferred tax assets and liabilities that are carried on the balance ...