ASC 740 (formerly known as FAS 109)

Accounting for income taxes (ASC 740) has become increasingly challenging due to complexities in tax law and extensive financial statement disclosure requirements relating to income taxes. The time, resources, and level of expertise needed to comply with ASC 740 can put significant strain on any organization’s accounting department.  You need to have highly trained and experienced tax specialists on your accounting team to avoid a real risk that tax issues will not be identified and/or addressed in a timely fashion. The impact of foreign tax credits, mergers and acquisitions and valuation allowance analysis are just a few of the complications that a company must consider during the preparation of current and deferred tax calculations.

Proper and timely preparation of a company’s quarterly and annual income tax provision calculation as well as proper presentation and footnote disclosure requires tax personnel with strong technical skills in tax and financial areas.  Our professionals have extensive experience in ASC 740 compliance. By taking the challenges of accounting for income taxes off of your hands, we will help you make the process as painless and efficient as possible and let you focus on more strategic aspects of your business.

Our ASC 740 services include:
         -  Tax provision preparation
         -  Effective tax rate (ETR) analysis
         -  Tax provision review
         -  Valuation allowance assessment
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