Accounting for Income Taxes
Financial accounting for income taxes and the related reporting requirements have become increasingly complex. Our tax professionals provide companies with the technical skills and practical insights to help them navigate through those complex requirements. BlumShapiro’s tax professionals also have extensive expertise and experience working with companies and their external accounting and audit service providers to ensure successful and efficient income tax accounting and reporting implementation. In addition, we keep companies up-to-date with the latest regulatory developments and guidance related to income tax accounting, disclosure requirements and documentation.
Our technical tax accounting services include:
- Calculate the entire tax provision pursuant to ASC 740 (formerly FAS 109)
- Account for uncertain tax positions under ASC 740-10 (formerly FIN 48)
- Analyze current and deferred taxes
- Verify and support a tax basis balance sheet
- Consult on specific tax accounting issues, such as business combinations, valuation allowance assessments and stock-based compensation
- Prepare financial statement footnote disclosures
- Assist with SOX income tax accounting compliance
By leveraging our specialized tax accounting resources, companies can minimize quarter- and year-end surprises, gain greater confidence in financial reporting of income taxes and reduce risk through improved control over tax accounting functions.
Contact our Tax Team for more information: