Corporate Taxes, Tax Reform, Financial Statements

Inflation Reduction Act of 2022 Includes New Corporate Tax Provisions

Pillsbury Winthrop Shaw Pittman LLP on 8/26/2022

The new law generally imposes a 15% alternative minimum tax on book income of corporations with book income in excess of $1 billion. Public companies will generally be subject to a 1% excise tax on stock buybacks. ...more

Miracle on Constitution Avenue - IRS releases anticipated method change guidance regarding new income recognition standards under...

Eversheds Sutherland (US) LLP on 12/11/2018

On November 29, 2018, the Internal Revenue Service (IRS) issued Rev. Proc. 2018-60, which provides automatic accounting method change procedures for taxpayers seeking to comply with section 451(b), relating to the timing of...more

Impacts of Tax Reform on a Company's Financial Statement

BCLP on 2/16/2018

Recent tax legislation, generally referred to as the Tax Cuts and Jobs Act (the “Act”), will have a significant impact on financial statement reporting. The Act was signed into law on December 22, 2017, and the financial...more

SEC Releases Guidance on Near-Term Disclosure Regarding Effects of New Tax Law

Kramer Levin Naftalis & Frankel LLP on 1/2/2018

The tax reform signed into law by President Trump on Dec. 22 (the Tax Act) presents public companies with several accounting and disclosure challenges. Although companies are still evaluating how they will be affected by the...more

New Tax Act Disclosures, Explanations and Examples

Stinson - Corporate & Securities Law Blog on 1/2/2018

Disclosures regarding the new tax act, often referred to as the Tax Cuts and Jobs Act or TCJA, continue to be prominent in SEC filings. Set forth blow is an explanation of the often obscure GAAP accounting driving many of the...more

The Tax Cuts and Jobs Act Meets Public Company Reporting

Cohen & Gresser LLP on 1/2/2018

Accounting for income taxes can be complex and is seldom exciting. Suspense was added, however, by the passage of the Tax Cuts and Jobs Act shortly before year end 2017. Would public companies have enough time to analyze the...more

SEC Guidance on Accounting for the Tax Cuts and Jobs Act and Form 8-K Obligations

Stinson - Corporate & Securities Law Blog on 12/27/2017

As Christmas Eve approached with vacations and holiday shopping in full swing, President Trump signed the Tax Cut and Jobs Act and the SEC promptly issued guidance to public companies on related accounting matters. Perhaps...more

Sleeper Issue? Deferred Tax Assets under a Trump Administration

Bass, Berry & Sims PLC on 12/7/2017

Update as of December 6, 2017: Congress and the President are nearing the finish line for significant tax reform with the likelihood of passing by the end of the year. Since it has the potential to significantly change the...more

Corporate Taxes › Tax Reform › Financial Statements

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