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Essential ASC-740 Resources

Avoid loss of investor confidence and a drop in stock price with ASC 740 compliance. We invite you to read our resources and contact Our Team of specialists to learn how we can help manage compliance with this complex financial accounting standard.

Tax provision work related to ASC 740 (FAS 109 and FIN 48), accounting for income taxes, requires businesses to analyze and disclose income tax positions and risks. These standards affect all C-corporations required to produce generally accepted accounting principles (GAAP) financial statements. Painstaking attention to detail and deep knowledge are critical to accurately calculate and report income tax provisions and uncertain tax positions resulting from an enterprise’s activities during current and preceding years. Through these efforts, companies are able to recognize current year taxes due or refundable, and manage expected future tax consequences of deferred assets and liabilities.

Deeply experienced

TaxOps is deeply experienced in every aspect of ASC 740, including:

  • Accounting for income tax uncertainties;
  • Business combinations;
  • Valuation allowances;
  • International operations; and
  • Sarbanes-Oxley Act 404 documentation; and
  • IAS 12, the IFRS equivalent to ASC 740.

Read more about our compliance and provision practice.

TaxOps Compliance and Provision Practice at a Glance TaxOps Compliance and Provision Practice at a Glance (224 KB)

We are here to help

We invite you to call or email one of our ASC 740 specialists to discuss a tax solution that works for your enterprise.

John Monahan, partner in the Colorado office, at 720.227.0060 or

Gary Purpura, partner in the Connecticut office, at 203.307.2820 or

Carolyn Neyer, senior tax manager in the Connecticut office, at 203.307.2824 or

Resources for you

We are pleased to provide you with the following basic, intermediate and advanced resources to put your enterprise on the path to ASC-740 compliance.

Basic ASC-740 resources

Subject matter expert John Monahan breaks down the complex rules to 10 quick-start steps to achieving ASC-740 compliance. Click the infographic below for step-by-step guidance in the The Path to ASC-740 Compliance.

Intermediate ASC-740 resources

Want to dig deeper? Download our white paper, A Closer Look at ASC-740

A Closer Look at ASC 740: Accounting for Income Taxes

Explore how accounting for uncertain tax positions can help smooth out tax liabilities and improve financial statement transparency in A Closer Look at Accounting for Income Taxes. Get the File »

Advanced ASC-740 resources

Subscribe to the Fundamentals Series.

Subscribe to the ASC-740 Fundamentals Email Series

The ASC-740 Fundamentals Series walks readers through a step-by-step process for preparing an income tax analysis. Everything from basic terminology and definitions through calculating uncertain income tax positions is covered in this 10-part series.

Subscribe »

Read more from Tax News

ASC 740 Income Tax Restatements Second Leading Cause for Financial Restatement

Avoid Restatements and Material Weaknesses Related to ASC 740

IRS Updates Statistics on Taxpayers Reporting Uncertain Tax Positions

Restatements Rise for Biggest U.S. Companies

IRS says UTP Descriptions of Some Tax Positions are Too “Concise"

$500 Hit from a Tax Provision Misstatement

Other ASC-740 resources

Schedule UTP (Form 1120)
Instructions for Schedule UTP (Form 1120) (HTML
Seven Frequently Asked Questions
Frequently Asked Questions on Schedule UTP
IRS Schedule UTP Guidance for Preparing Concise Descriptions