This KPMG handbook is designed to assist you in understanding the application of ASC 740 and other pertinent sections of the FASB standard.
- All entities subject to income tax
This April 2021 edition incorporates:
- Updated guidance on the Consolidated Appropriations Act, 2021 and the American Rescue Plan Act of 2021
- New guidance on reliance on prior interactions with the taxing authority
- Additional guidance on valuation allowance considerations associated with the sale of a subsidiary
- New guidance on attribute reduction resulting from the emergence from bankruptcy
- Guidance on the adoption of ASU 2020-10, Codification Improvements