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.
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.
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.
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
Advanced ASC-740 resources
Subscribe to the Fundamentals 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
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 »
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Other ASC-740 resources
Schedule UTP (Form 1120)
Instructions for Schedule UTP (Form 1120) (HTML
Seven Frequently Asked Questions
IRS Schedule UTP Guidance for Preparing Concise Descriptions
More FAQ Guidance on Filing Schedule UTP
All Schedule UTP (Form 1120) Revisions
Frequently Asked Questions on Schedule UTP
Uncertain Tax Positions - Schedule UTP
Other Current Products