ASC 740

Accounting for income taxes is detail-oriented, complex and time-consuming.

Missteps in analyzing and disclosing income tax risk can be costly, and result in material weaknesses, financial restatements and management disclosures. They can also lead to a loss of investor confidence, drop in stock price and business distractions.

Painstaking attention to detail and deep knowledge are critical to accurately calculating and reporting income tax provisions and uncertain tax positions.

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.

Complying with ASC 740 is challenging for public companies, and for companies without an internal tax department, the challenge is even greater.

Leading Your ASC 740

Seasoned professionals with significant Big Four experience take the lead, enabling our teams to deliver the strength, knowledge and resources of a national tax brand with the hands-on client engagement of a specialty firm. Our accessibility and tax advocacy frees our clients to focus on their core business.

Davinia Lyon

Partner

Lindsay Haskell

Senior Tax Manager

Leverage Our Experience

Because we’ve been in industry, we know how to bridge the communication gap that often exists between internal finance departments and third party auditors

Having the in-depth knowledge, tax technical understanding, and experience on-hand and on-demand to manage estimates and assumptions related to tax provisions is critical to getting ASC 740 calculations and disclosures right. We take the hassle and guesswork out of ASC 740 and its many provisions.

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

Transfer Pricing and Foreign Taxability

Transfer pricing directly impacts the amount of taxable income in each jurisdiction, which is the starting point for ASC 740. The way a company approaches transfer pricing may require reporting an uncertain tax position under ASC 740. Taxability changes, such as new digital taxes, also affect financials. We’ll keep you up to date with transfer pricing and global tax policy changes relevant to your enterprise as they occur. We’re available to answer questions in this unforgiving area of tax.

SOLUTIONS

  • Quarterly calculations and footnotes according to U.S. GAAP
  • Transfer pricing and foreign taxability review
  • Assistance establishing internal controls and processes 
  • Remediation and IRS controversy 
  • M&A and transaction due diligence

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Federal

No two businesses are the same. So, our federal and international tax solutions are fully customized to the way you do business. 

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What you don’t know about taxes shouldn’t undermine your business success here, in all 50 states, five U.S. territories and internationally.

Tax Minimization

Our best practices uncover opportunities to increase credits, deductions and deferrals in ways that often go undetected by other firms.

Get the right set of eyes on your challenging tax issues.

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