Income taxes

IFRS® Perspectives – June 2023

June 02, 2023

A collection of articles providing updates on current IFRS Accounting Standards relevant to US companies.

Handbook: Tax credits

June 02, 2023

Our in-depth guide explains the accounting for various forms of tax credits in accordance with US GAAP.

Global Minimum Tax

May 25, 2023

We address accounting questions related to the new GloBE rules.

Simplified investor accounting for tax equity investments

March 29, 2023

FASB issues final ASU that expands use of the proportional amortization method to additional tax equity investments.

FASB proposes improvements to income tax disclosures

March 16, 2023

Proposal would enhance income tax disclosures for the effective tax rate reconciliation and income taxes paid.

Q1 2023 Quarterly Outlook

March 08, 2023

Our quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.

IFRS® Perspectives – March 2023

March 03, 2023

A collection of articles providing updates on current IFRS® Accounting Standards relevant to US companies.

Handbook: Accounting for income taxes

February 09, 2023

Latest edition: KPMG explains the accounting for income taxes in detail, providing examples and analysis.

IRA and CHIPS: Tax considerations

February 03, 2023

Our impressions on the accounting for key provisions in the recently enacted tax legislation.

Corporate AMT implications - IFRS® Accounting Standards

December 21, 2022

Impact of the IRA's Corporate AMT on accounting for deferred tax assets under IFRS Accounting Standards

Q3 2020 Quarterly Outlook

September 15, 2020

Quarterly update from KPMG on accounting and financial reporting developments, including SEC matters and FASB activity.

Q2 2020 Quarterly Outlook

June 18, 2020

KPMG’s quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.

Income tax accounting impacts of COVID-19

April 22, 2020

Updated: Potential impacts to income tax accounting, including interim estimates and valuation allowances.

FASB issues simplifications to income tax accounting

December 19, 2019

ASU 2019-12 removes certain exceptions and adds guidance to reduce complexity.

Up-C structure

September 30, 2019

Updated edition: We explain the use of Up-C structures to unlock value beyond a traditional IPO.

FASB re-proposes changes to income tax disclosures

March 26, 2019

KPMG reports on the proposed ASU that seeks to improve the effectiveness of income tax disclosures.

Supreme Court overturns ‘physical presence’ standard

July 12, 2018

The Court’s decision makes it clear that businesses can no longer rely on lack of physical presence to avoid collecting and remitting sales and use taxes.

SEC staff comments on accounting for tax reform

June 27, 2018

SEC staff makes observations about expectations of progress on accounting for tax reform and new accounting standards.

FASB’s ASU eliminates Circular 202 guidance

May 08, 2018

The FASB has eliminated the reference to superseded regulatory guidance for depository and lending institutions.

Reverse Morris Trust

February 15, 2018

KPMG demystifies a tax efficient structure for business divestitures.

NAIC adopts INT 18-01

February 08, 2018

KPMG reports on the NAIC’s adoption of INT 18-01 dealing with updated estimates under US tax reform.

FASB’s ASU eliminates ASC 995

December 05, 2017

The ASU eliminates outdated special income tax accounting guidance for steamship entities

Recent IRS audit rules: partnership tax underpayments

November 06, 2017

Recent IRS rules for audits of partnerships may change the accounting for tax underpayments.

Section 987 regulations postponed

October 02, 2017

The proposals would clarify, correct errors in, and make improvements to several Topics in the Codification.

Proposed technical corrections to income tax accounting

June 05, 2017

KPMG reports on the FASB’s latest proposed technical corrections.

Income tax implications of Brexit

March 06, 2017

Companies should provide clear and transparent disclosures about the withdrawal process and its potential effects.

Targeted change to VIE primary beneficiary test

October 03, 2016

Speakers from regulators, standard setters and others discussed recent developments in accounting, auditing and financial reporting – and KPMG observations.

FASB decides to retain guidance on pre-production costs

October 03, 2016

Speakers from regulators, standard setters and others discussed recent developments in accounting, auditing and financial reporting – and KPMG observations.

Accounting for taxes on interco transfers changes

October 03, 2016

Speakers from regulators, standard setters and others discussed recent developments in accounting, auditing and financial reporting – and KPMG observations.

Revenue standard portends potential tax changes

May 16, 2016

KPMG reports on FASB’s ASC 606 technical corrections. FASB’s last anticipated standard-setting activity prior to revenue standard effective date.