Explore Accounting for Income Taxes

Pillar Icon

Accounting for Income Taxes

 

divider-graphic

We can help guide you through the maze that is ASC 740.

Our team of highly experienced professionals bring a deep understanding of tax law, tax accounting requirements, and the process of documenting and supporting positions to every engagement. Not bound by Sarbanes-Oxley related conflicts, we are the independent advocates best positioned to serve you. True Partners can help you stay ahead of the curve in managing the complexities associated with ASC 740—from the initial preparation and/or review of your tax provision and uncertain tax positions to reflect the most recent changes in tax law, to complying with financial reporting requirements of accounting for income taxes.

We can also provide assistance in designing and implementing your tax accounting processes and related internal controls to ensure your company identifies and properly complies with all ASC 740 obligations.

Our services include:

  • Preparation of current and deferred tax analyses and support for valuation allowances
  • Preparation, review and support of quarterly and annual income tax provisions
  • Implementation of tax provision automation software
  • Accounting for income taxes related to various stock awards
  • IFRS income tax accounting consulting
  • Income tax accounting for purchase accounting requirements of business combinations
  • Documentation of uncertain tax positions and updating assessments of changes in judgment that might result in the recognition, de-recognition, and changes in the measurement of such tax positions
  • Support and assistance with tax-related restatements of financial statements or pro forma financial statements
  • Assistance in drafting required footnote disclosures
  • Creating or testing internal controls related to tax processes, including SOX documentation
  • Development of an integrated strategy to report uncertain tax positions on Schedule UTP, protect privileged documents, and prepare an appropriate audit defense plan to address inevitable challenges by the IRS and state tax authorities
  • In-depth review leading to process improvements and training