This page is dedicated to ASC 740 guidance and content and is updated regularly.
(formerly FAS 109, Accounting for Income Taxes and FIN 48, Accounting for Uncertainty in Income Taxes)
TaxOps has assembled a world-class team to assist you with your income tax provision. We have experience with every aspect of ASC 740, including accounting for income tax uncertainties, business combinations, valuation allowances, international operations, SOX 404 documentation, etc. We are also fluent in IAS 12, the IFRS equivalent to ASC 740. This page is dedicated to ASC 740 guidance and content and is updated regularly.
Upcoming ASC 740 events scheduled for November 2011
November 15, 2011 – Hotel Boulderado, Boulder, Colorado
November 17, 2011 – University of Denver, Denver, Colorado
Beginning January 1, 2010, certain corporate taxpayers are required to file Schedule UTP to report uncertain tax positions with the Form 1120. Completion instructions and other information related to the filing of Schedule UTP can be found at the UTP web page at http://www.irs.gov/businesses/corporations/article/0,,id=221533,00.html.
In addition, the IRS posted a list of seven frequently asked questions (FAQs) that supplement the 2010 instructions and other guidance issued on Schedule UTP. The FAQs address some of the key issues that taxpayers and practitioners have raised about Schedule UTP and related guidance.
View the second set of frequently asked questions issued by the IRS on July 19, 2011.
More FAQ Guidance on Filing Schedule UTP
Subscribe to our blog for current posts related to our ASC-740 Fundamentals Series. Most recently posted:
ASC 740 Fundamental Series Part 1: The Fundamentals
ASC 740 Fundamental Series Part 2: Terms and Definitions
ASC 740 Fundamental Series Part 3: Frequently Asked Questions
ASC 740 Fundamental Series Part 4: Calculating the Income Tax Provision – Step 1
ASC 740 Fundamental Series Part 5: Calculating the Income Tax Provision – Step 2
ASC 740 Fundamental Series Part 6: Calculating the Income Tax Provision – Step 3
ASC 740 Fundamental Series Part 7: Calculating Deffered Income Tax Expense or Benefit – Step 4
ASC 740 Fundamental Series Part 8: Determining Uncertain Tax Positions – Step 5
For more information, contact Dan DeLau at 720-227-0065 or delau@taxops.com.
What is accomplished by accounting for income taxes? Why does it matter? Are there any pitfalls I should be aware of with regard to accounting for income taxes? Find out the answers to these questions and more. Download the TaxOp’s whitepaper on Accounting for Income Taxes.
