Judy Vorndran and Duane Dobson teach a full day of classes on tax return filing methods and ASC 740 at the IPT State Income Tax School in Atlanta.

Wednesday, July 20, 2022

9:15 – 12:00 pm ET

Tax Return Filing Methodologies

This session will include a comparison of separate, consolidated and combined state income tax returns, including a discussion of the mechanics and implications of each. Building upon prior sessions, the income and apportionment factors used and the treatment of inter-company transactions and tax attributes for the different return types will also be discussed.

Learning Objectives

At the end of this session, the participant will be able to:

  • Recognize the different methods of state income tax reporting
  • Explain which entities are typically included in the different types of returns
  • Differentiate between a full consolidated return and a nexus consolidated return
  • Recognize the difference between the states authority to require combination versus a taxpayers ability to elect combination
  • Grasp how taxable income is calculated in the different types of returns
  • Recognize the difference in the treatment of intercompany transactions under different return types
  • Apply net operating losses to different return types

1:00 – 4:00 pm ET

Tax Provisions & Accruals

This presentation will review the key financial accounting pronouncements that apply to tax provisions and discuss their scope and basic principles. This presentation will then examine the impact of those financial accounting pronouncements on an entity’s income statement and balance sheet. This presentation will also demonstrate the application of the financial accounting pronouncements to the determination of an entity’s income tax provision and contingency reserves for other taxes. Finally, this presentation will discuss the transition from generally accepted accounting principles to international financial reporting standards.

Learning Objectives

At the end of this session, the participant will be able to:

  • Identify the key financial accounting pronouncements that apply to tax provisions and understand the type(s) of taxes to which they apply
  • Grasp the scope and basic principles of FAS 109
  • Recognize the effect of FAS 109 on an entity’s income statement and/or balance sheet
  • Recognize the difference between the current and deferred components of an entity’s income tax provision
  • Apply the principles of FAS 109 to basic fact patterns to determine an entity’s income tax expense and deferred tax assets/liabilities
  • Recognize the relationship between FIN 48 and FAS 109 and apply FIN 48’s recognition and measurement principles to uncertain tax positions
  • Grasp the scope and basic principles of FAS 5
  • Recognize the effect of FAS 5 on an entity’s income statement and/or balance sheet
  • Apply the principles of FAS 5 to basic fact patterns to determine an entity’s tax contingency reserves
  • Develop an awareness of the transition from generally accepted accounting principles to international financial reporting standards and identify the type(s) of entities that will be affected by the transition

4:00 – 5:15 pm ET

Tax Provisions: Case Study

About the Presenters

Judy Vorndran, JD, CPA, State and Local Tax Partner at TaxOps

Ms. Roberts has been making SALT less taxing for thousands of businesses over the last 25 years. As a director of the SALTovation team at TaxOps, she is at the table-and in the weeds-helping guide dynamic businesses through compliance and strategic planning that minimizes risk and strengthens tax positions. She entered accounting with Andersen Worldwide/Andersen LLP, where she honed her state and local tax experience. She added stints at KPMG and Deloitte before moving in-house with a Fortune 500 company, managing State and Local Tax Administration. Before joining TaxOps, she led the national SALT practice at a regional firm. Stacey is a member of the Colorado Legislative Task Force Concerning Tax Policy and a frequent speaker and author on SALT issues for industry and professional organizations, including the Journal of State Taxation, Strafford Publishing, and more.

Duane W. Dobson, Jr., CMI, CPA Director, State Income/Franchise Tax Consulting Ryan, LLC Arlington, VA

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