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Accounting for Income Taxes – 2015 Year-end Hot Topics
Introduction
Valuation
allowance
assessment
December 2015
Standard setting
update
Indefinite
reinvestment
PCAOB update
Acquisition
accounting
Global tax
law developments
European Union –
State aid
SEC comment
letters
Disclosures
Important links
Let’s Talk
Introduction
Back Next
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Calendar year 2015 has seen considerable activity in the
legislative, regulatory and accounting standard setting
landscapes both in the United States and abroad. At the
same time, the global tax environment continues to evolve
as companies are faced with rapidly changing business
conditions, increased stakeholder scrutiny, and a heightened
enforcement atmosphere. If all that was not enough, we
have seen several jurisdictions introduce new forms of
taxation and incentives in their effort to respond to these
same developments.
These developments, combined with an environment of
political and economic uncertainty, have added to the
existing challenges in accounting for income taxes and have
made tax planning and certain more complex areas of tax
accounting worthy of boardroom discussion.
As in prior years, this publication is focused on topics we
believe will be widely relevant to the preparation of 2015
year-end financial statements.
Unless specifically indicated, the discussion and
references throughout the publication pertain to US
generally accepted accounting principles (US GAAP)
and reporting considerations.
This publication, our accounting for income taxes
guide, and other tax accounting publications are also
available on our TAS to Go app, which can be
downloaded via App Stores.
If you would like to discuss any items in this
publication or other tax accounting issues, please
contact your local PwC team or the local Tax
Accounting Services network member listed on
the back page.
Regards,
David L. Wiseman
Acquisition accounting
Disclosures
Important links
Let’s talk
David L. Wiseman
US National Tax Accounting
Services Leader
[email protected]
2
Standard setting update
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Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Let’s talk
Companies are encouraged to provide comments on Exposure Drafts and should be aware of existing early adoption
guidance (e.g., classification of deferred taxes as non-current guidance under ASU 2015-17 can be adopted immediately,
if desired) to the extent included in certain standards. See PwC’s Tax Accounting Services publication for further
information on the FASB projects.
3
PCAOB update
Overview
Back Next
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
The Public Company Accounting Oversight Board’s
(PCAOB) staff issued a Staff Inspection Brief (Brief) in
October 2015, covering inspections of registered audit firms
and their audits. Consistent with prior years, the inspections
staff focused on areas where inspectors found significant
deficiencies and highlighted three areas:
• Internal controls over financial reporting, particularly
related to the testing of the design and/or operating
effectiveness of controls.
• Assessing and responding to risks of material
misstatement.
• Accounting estimates, including fair value
measurements, particularly related to testing of
key data and significant assumptions used by
management to develop those estimates.
Indefinite reinvestment
Income taxes
Acquisition accounting
From 2011 through 2014, income taxes have been in the top
five audited financial statement reporting areas selected for
inspection. The PCAOB’s focus in this area has continued in
2015. In deciding its areas of focus and scrutiny, the PCAOB
monitors emerging areas of audit risk. These new areas of
audit risk have included increases in M&A activity,
economic factors such as falling oil prices, and the growth in
undistributed foreign earnings.
Disclosures
Important links
Let’s talk
Each of these areas of risk has the potential to impact
the level of scrutiny that income taxes attract during a
PCAOB inspection. Companies should consider how
they have responded to these areas of risk in both their
accounting for income taxes and in their design and
execution of related financial reporting controls.
The PCAOB views the audit of income taxes as an area
of inherent complexity, particularly in relation to topics
such as valuation allowances, indefinite reinvestment
assertions and uncertain tax positions. Each of these
areas often requires accounting estimates and
significant judgments that are heavily based on facts
and circumstances.
With increased investor and public attention being
given to undistributed earnings and cash held overseas
as well as the push for increased transparency in
disclosures, we expect this correlation between the
level of perceived inherent risk and the level of scrutiny
of audit procedures performed by external auditors in
the area of tax to continue.
From 2011 through 2014,
income taxes have been in the
top five audited financial
statement reporting areas
selected for inspection.
4
Global tax law developments
Back Next
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Let’s talk
5
European Union – State aid
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Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Let’s talk
The accounting
consequences of many
fiscal State aid
investigations are likely
to be within the scope of
ASC 740.
Overview
Financial accounting considerations
Over the past few years, the European Commission (EC) has
expanded its historical view of governmental arrangements,
which could be considered unlawful State aid. These are
situations where a company receives discretionary
governmental support through which it receives an unfair
advantage over its competitors.
The determination as to whether there is unlawful
State aid is ultimately a matter of EU competition law,
not income tax law. However, the accounting
consequences of many such investigations are likely to
be within the scope of ASC 740.
In 2014, the EC announced a new focus on fiscal State aid
and initiated formal investigations of several companies’ tax
rulings and member countries’ tax regimes. Fiscal State aid
may include favorable tax rates, subsidies, exemptions or
other tax concessions. If State aid is determined to have
been granted, the EC can require the local country to collect
back taxes for up to ten years (plus interest) based on the
benefit received.
In October 2015, the EC issued final decisions in its formal
State aid investigations of transfer pricing agreements
between Starbucks and the Netherlands, as well as Fiat and
Luxembourg. The EC opinion concluded that both
companies benefited from unlawful State aid and ordered
full recovery of the aid.
The EC’s final decisions on two more significant company
investigations with tax agreements (i.e., Apple’s transfer
pricing ruling in Ireland and Amazon’s transfer pricing
ruling in Luxembourg) as well as its review of the Belgian
excess profit ruling system are expected shortly.
While the EU Member countries or the companies in these
investigations may further contest or appeal the
determinations, the EC’s decisions highlight the risk that
State aid may pose to companies operating in the EU.
To the extent an organization has the risk that its
positions taken may constitute unlawful State aid,
companies should have internal controls in place to
monitor State aid developments and to consider
possible financial reporting implications whenever a
tax ruling, tax settlement, or even tax regime may be
considered State aid.
Companies should assess the potential effect of these
continuing developments on existing uncertain income
tax positions, as well as on amounts owed for periods
previously considered closed.
State aid should also be an important consideration
when establishing any new tax position with the tax
authorities, whether in relation to a tax ruling, tax
settlement, or the application of a specific tax regime.
While not required in the accounting literature to
support their position, we would expect that some
companies may need to seek expert support in
assessing risks or uncertainties that the EU State aid
rules pose. Management’s analysis should address the
company’s position in the context of the relevant
accounting standard, such as the ‘more likely than not’
recognition threshold of ASC 740 as well as any
disclosure and internal control considerations.
For more information, please refer to the
following resources:
•
EU Fiscal State aid – a briefing document
•
European Commission announces an investigation
into the Belgian excess profit ruling system
6
SEC comment letters
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Let’s talk
Click here to access:
Stay informed:
2015 SEC comment
letter trends
Income taxes
With respect to valuation allowance considerations or
testing, the SEC comments sought to more deeply
understand the facts, circumstances, judgments, and
decisions made by management. Emphasis was also given to
understanding management’s weighting of specific positive
and negative evidence. The staff regularly focuses on the
importance of early warning disclosure of possible nearterm valuation allowance changes.
Regarding the effective tax rate presentation, the SEC often
requested quantitative and qualitative details to support the
amounts and level of aggregation in the ‘foreign rate
reconciling items’ or ‘foreign rate differential’ line item.
Requests have included: (1) a discussion of how the line item
was computed by identifying its significant components, and
(2) a reconciliation detailed by country. Attention has also
been given to situations where significant items were
discussed in the financial statements but unexpectedly had
no significant impact on the effective tax rate (e.g., a
valuation allowance release with minimal rate impact).
We expect areas of management judgment—
particularly relating to valuation allowance
considerations, foreign tax rates, unremitted earnings,
and uncertain tax positions—to be a continued area of
focus of regulators, investors, and commentators in
2016.
Comment letters issued in 2015-2013
180
160
140
120
100
80
60
40
20
0
151
166
142
133 126 130127
121
108
70
45
57
59
64
85
9 17 17
2015
2014
2013
Other
European Union – State aid
Valuation Allowance
Global tax law developments
Because of the risks and uncertainties associated with
UTPs, we often find comment letters issued when a
registrant’s disclosures lack the clarity necessary to
provide financial statement readers an understanding
of the change in the UTP that has already occurred or
could potentially occur in the near term (i.e., sufficient
early warning disclosures).
Uncertain Tax Position
PCAOB update
Rate Reconciliation
Standard setting update
Indefinite Reversal
Criterion
Introduction
The SEC staff has continued to emphasize that a
registrant’s indefinite reinvestment assertion(s) related
to foreign earnings should be consistent with its
disclosures within: (1) Management’s Discussion and
Analysis of Financial Condition and Results of
Operations (MD&A), (2) financial statement footnotes,
and (3) other publicly available information. The staff
has regularly required additional disclosure in the
liquidity section of MD&A of potential tax effects from
repatriating offshore cash and cash equivalents.
Business Combinations
Back Next
During the year, the staff of the Securities and Exchange
Commission (SEC) continued to pose a significant number
of income tax questions to preparers via staff comment
letters. Of the comment letters issued and released to the
public between October 1, 2014 and September 30, 2015,
422 included questions related to tax matters. Of those taxrelated comments, 305 related collectively to: deferred tax
valuation allowance assessments, the presentation of the
effective tax rate reconciliation, the accounting and
disclosure for indefinite reinvestment of foreign earnings,
and the accounting and disclosure of uncertain tax positions
(UTPs).
7
Valuation allowance assessment
Back Next
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Let’s talk
Assessing the need for a valuation allowance against deferred
tax assets (DTAs) requires significant judgment and a
thorough analysis of relevant positive and negative evidence.
The accounting standard prescribes that the weight given to
each piece of evidence be directly related to the extent to
which that evidence can be objectively verified. Accordingly,
recent financial results are given more weight than future
projections.
Net deferred tax liabilities
Even companies with net deferred tax liabilities in a particular
jurisdiction must consider the need for a valuation allowance.
While the reversal of deferred tax liabilities can be used as a
source of income to realize a DTA, the deferred tax liability only
provides for realization of DTAs if the liabilities reverse in a
pattern or period that would help to recover the DTAs. As a
result, deferred tax liabilities generated by indefinite-lived
intangibles or goodwill often will not represent a source of
Tax planning strategies
income that allows for the realization of deferred tax assets in a
A tax planning strategy is an action management ordinarily
jurisdiction where tax attributes such as loss carryforwards
might not take, but would take to prevent a tax asset from
expire. In jurisdictions where loss carryforwards do not expire,
expiring unused. In order to qualify as a tax planning strategy the potential loss carryforward generated by the reversal of
(and thus be included in the accounting), the action must be DTAs or DTAs on loss carryforwards themselves, could be
both prudent and feasible, and result in realization of the
supported by deferred tax liabilities on indefinite-lived
DTA from a group-wide perspective. In other words, there
intangibles since both could be scheduled to offset in the
should be realizable tax savings to the consolidated financial indefinite future.
reporting group.
Unlimited carryforwards
Consideration of prudent and feasible tax planning strategies
If an entity has consistently operated at a loss, it may be difficult
is required to the extent the other sources of taxable income
to overcome that negative evidence, even for DTAs that have an
are not sufficient to realize the DTA. In other words, if it
could have an impact on the accounting, the consideration of unlimited carryforward period. On the other hand, a sustained
level of profitability, even at a low level, may result in sufficient
prudent and feasible tax planning strategies is not optional.
positive evidence when taken together with a non-expiring
carryforward.
Similar considerations can arise with respect to the need for a
valuation allowance against certain expenditure-based income
tax credit carryforwards that continue to increase given the
consistent generation of new credits in excess of what is being
utilized.
In cases where there are large carryforwards supported by
relatively small levels of sustainable earnings we would often
expect disclosures informing the reader that the DTAs may not
be recovered for some time. For more information, please refer
to the following resources:
•
PwC’s Guide to Accounting for Income Taxes Chapter 5
•
PwC’s valuation allowance podcast
8
Indefinite reinvestment
Overview
Back Next
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
The growth in the amount of unremitted foreign earnings
maintained by US multinationals combined with the political
pressures that come with the deferral of taxation of these
amounts in the US have made the application of the indefinite
reinvestment assertion a matter of heightened concern for many
stakeholders.
Companies should consider the following when evaluating their
indefinite reinvestment assertions:
• Coordination and alignment among multiple business
functions within a company’s global organization, such as
treasury, legal, operations, and business development.
Processes or controls must be in place to ensure that the
indefinite reinvestment assertion is consistent with the
organization’s cohesive view, plans, and expectations.
•
A specific documented plan that addresses the parent and
subsidiary’s long- and short-term projected working capital
and other financial needs. This would generally include
specific evidence as to why there is not a need for
unrepatriated earnings to be distributed. In cases where
management supports indefinite reinvestment based upon a
higher expected rate of return on reinvesting the foreign
earnings as compared with the after-tax return on repatriated
funds, that analysis/assessment should be included in the
company’s documentation.
•
Assessment of the consistency of the assertion with the parent
and subsidiary’s long- and short-term budgets and forecasts,
any past dividends, and the tax consequences of a decision to
remit or reinvest.
•
Assessment of whether any intercompany transactions, such
as a loan or a credit support agreement provided by the
foreign operations to the parent, may be relevant in assessing
the assertion.
The assertion is supported by all levels of management who
could impact management’s actions that could affect the
assertion. Where controlling or shared ownership is present,
the assertions must be aligned with the expectations of
owners who may have governance or decision-making
influence.
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Let’s talk
•
Disclosures
The following disclosures are required in a company’s annual
financial statement footnotes:
• The accumulated amount of undistributed foreign
earnings of subsidiaries, and any other component of the
outside basis difference, such as cumulative translation
adjustments, for which a deferred tax liability has not
been recorded because of an indefinite reinvestment
assertion.
• The estimated unrecognized deferred tax liability related
to such amounts if the determination of an estimate is
practicable, or a statement that calculation of an estimate
is not considered practicable.
• A description of the types of events that would cause such
foreign earnings (and any other component of the outside
basis difference) to become taxable in the parent’s home
country jurisdiction.
SEC comment letters have reminded preparers of the
requirement to disclose an estimate of the unrecorded tax
liability relating to unremitted earnings, if practicable to
calculate. Preparers asserting impracticability should be
prepared to articulate the basis for their view.
For more information, please refer to the following
resources:
• PwC’s Guide to Accounting for Income Taxes
Chapter 11
• PwC Tax Accounting Services publication: Income tax
disclosure
• PwC Tax Accounting Services publication: Deferred taxes
on foreign earnings: A road map
9
Acquisition accounting
Back Next
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Judgment is often required to determine whether the tax
effects of certain post-acquisition transactions, events or
elections should be recognized in acquisition accounting.
Examples of such transactions may include:
• the transfer of intangible or intellectual property (IP)
• the migration of operations out of or into different
jurisdictions
• intercompany restructuring transactions
• elections to change the tax status of foreign entities
(e.g., converting controlled foreign corporations to
branch operations)
• certain mergers or similar transactions provided for
under foreign tax law
• elections to treat a non-taxable acquisition as a taxable
acquisition
If not recognized in acquisition accounting, the related tax
effects may impact earnings and create volatility in a
buyer’s effective tax rate. Determining whether postacquisition transactions or elections should be recognized
in acquisition accounting requires careful consideration of
specific facts and circumstances. The following table
provides some of the factors that can affect these
determinations.
Let’s talk
Evaluating the tax effects of post-acquisition
transactions/elections
Deferred taxes for outbound transfers of IP
In situations where multiple legal entities reside in
different tax jurisdictions but are accounted for in one
reporting unit for financial reporting purposes, deferred
taxes will need to be measured based on the enacted tax
rate for each legal entity in which an acquired asset or
assumed liability resides.
For legal entities subject to taxation in multiple
jurisdictions, such as those having foreign branches,
deferred taxes would typically be provided for all
jurisdictions.
When a US-based company acquires a multinational
business, attention should be given to the possible need
for US deferred taxes related to acquired IP which resides
offshore (either as a result of a prior or post-acquisition
outbound transfer).
The acquirer may be required to pay US income taxes in
future years, for instance, based upon deemed annual
taxable royalties over the life of the IP or upon its
disposal. As a result, there could be both local country
and US deferred taxes related to the acquired IP based
upon its fair value in acquisition accounting.
For more information, please refer to the following
resources:
• PwC M&A Snapshot – Change the way you think about
tomorrow’s deals
1) Whether the election is available and contemplated as
of the acquisition date
2) Whether the election or transaction is primarily within
the buyer’s control with no significant uncertainties as to
completion
3) Whether the election or transaction requires a separate
payment to be made to obtain tax benefits
4) Whether other significant costs will be incurred to
implement the transaction
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Disclosures
In 2015, income tax disclosures continued to be a hot
topic with investors, regulators, lawmakers, and
preparers of financial statements.
Back Next
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Let’s talk
In the US, income tax disclosures became a focus of the
FASB as part of its broader Disclosure Framework
project undertaken to improve the effectiveness of
disclosures in financial statements. The FASB is
considering changes to income tax disclosures related to
foreign earnings, unrecognized tax benefits, the tax rate
reconciliation, income taxes paid, tax attribute
carryforwards, deferred taxes, valuation allowance, and
tax law changes.
Similarly, ‘effective’ income tax disclosures have
continued to be an area of focus by the SEC. The SEC
staff has encouraged registrants to take actions to make
disclosures more effective by streamlining them,
eliminating generic language, avoiding duplication, and
making greater use of hyperlinks and cross-referencing
where applicable and appropriate.
In addition to income tax disclosures in financial
statements, enhanced transparency and disclosure of
tax-relevant information to governments and the public
are being more common and more frequently requested.
The demand for greater transparency is reflected in the
agendas and action plans of the OECD, the G-20, the
European Union, and the United Nations.
The most immediate global tax transparency initiative
faced by multinationals is the OECD’s country-bycountry (CbC) reporting recommendation and template
issued as part of their Base Erosion and Profit Shifting
(BEPS) project.
In Europe, the EC is expected to finalize their
requirements for further corporate tax transparency in
early 2016.
A number of countries have taken unilateral actions to
require greater transparency of tax information. For
example, the UK government recently proposed the
introduction of a legislative requirement for all large
businesses to publish their tax strategy, which would lead
to greater public scrutiny of their approach towards tax
planning and compliance. Australia has announced a
proposal to develop a tax transparency code—a voluntary
code aimed at providing greater public disclosure of tax
information by businesses, particularly large
multinationals.
With the increased volume of mandatory reporting
requirements and the continued interest in companies’
tax affairs from a range of stakeholders, there are
concerns that financial accounting data alone does not
provide the full picture. To address a perception that
businesses may not be paying their ‘fair share’ of tax,
more companies are choosing to proactively say more
about tax, including their approach to tax planning, tax
governance, and total tax contribution.
As eyes continue to focus on companies’ tax affairs, and
the requested level of transparency of income tax-related
information continues to evolve, companies should assess
their existing disclosures to determine if the information
it provided gives a reader insight into management’s
assessment of their financial condition and provide
stakeholders with decision-useful information.
11
Important links
Back Next
Guide to Accounting for Income Taxes:
This PwC guide is intended to clarify the
fundamental requirements involved in the
accounting for income taxes and to highlight
key points that should be considered before
and after transactions are undertaken.
Income tax disclosure: Numerous income tax
accounting matters require the use of
estimates, judgments, and other subjective
information that can obscure the presentation
in the financial statement accounts. Clarifying
disclosures can enable users to gain a better
understanding of the reporting entity’s income
tax environment.
IFRS and US GAAP: similarities and
differences: This PwC publication provides a
broad understanding of the major differences
between IFRS and US GAAP, as well as
insight into the level of change on the horizon.
Patent boxes and technology incentives: This
publication discusses key tax and financial
reporting considerations of patent box regimes
and other technology incentives.
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
Important links
Let’s talk
Around the world: When to account for tax law
changes: This is the third edition of our global
publication on tax law enactment and
substantive enactment dates. This edition has
been updated to include information on 17
additional jurisdictions. It also reflects any
changes in our understanding of the
lawmaking processes of jurisdictions presented
in the previous edition.
Click here for upcoming and previous TAS events
TAS to Go: An app designed to provide meaningful and
real-time access to PwC’s comprehensive Guide to
Accounting for Income Taxes, tax accounting thought
leadership and insights, as well as examples of relevant SEC
comment letters.
Click here to download on iOS
Click here to download on Windows devices
Foreign currency: PwC is pleased to offer the
first edition of our foreign currency guide. The
accounting guidance on foreign currency
matters was written more than 30 years ago;
yet this topic remains particularly relevant in
today’s global economy.
Click here to download on Android devices
12
Let’s talk
To have a deeper conversation about how these
issues and predication may affect your business,
please contact your usual PwC adviser or one of
the following tax accounting specialists:
TAS Market Champions
Market
Leader
Phone
Email
Atlanta
Ben Stanga
+1 (615) 503-2577
[email protected]
Northern California – Ty Kanaaneh
San Jose
+1 (408) 817-5729
[email protected]
Northern California – Adan Martinez
San Francisco
+1 (415) 498-6154
[email protected]
Southern California
Darrell Poplock
+1 (213) 356-6158
[email protected]
Carolinas
Tamara Williams +1 (704) 344-4146 [email protected]
David Wiseman
US National Tax
Accounting Services Leader
[email protected]
Edward Abahoonie
Tax Accounting
Services Technical Leader
[email protected]
Steven Schaefer
National Practice
Tax Partner
[email protected]
Katya Umanskaya
US National Tax
Accounting Services Director
[email protected]
Chicago
Rick Levin
+1 (312) 298-3539
[email protected]
Florida
Rafael Garcia
+1 (305) 375-6237
[email protected]
Houston
Maria Collman
+1 (713) 356-5091
[email protected]
Lake Erie
Mike Tomera
+1 (412) 355-6095
[email protected]
Mark Wilmot
US National Tax
Accounting Services Director
[email protected]
Krystle Rodrigues
National Practice
Tax Director
[email protected]
Michigan
Luke Cherveny
+1 (313) 394-6767
[email protected]
Minneapolis
Chad Berge
+1 (612) 596-4471
[email protected]
Missouri
Brian Sprick
+1 (314) 206-8509 [email protected]
Northeast
David Wiseman
+1 (617) 530-7274
[email protected]
New York Metro
Allen AhKao
+1 (973) 236-5730
[email protected]
New York Metro
(Financial Services)
Gayle Kraden
+1 (646) 471-3263
[email protected]
New York Metro
(Private Company
Services)
Gary Pogharian
+1 (973) 236-5696 [email protected]
Christina Lai
+1 (646) 471-5536
[email protected]
Important links
New York Metro
(Banking and
Capital Markets)
Let’s talk
Ohio, Kentucky,
Indiana
Dan Staley
+1 (513) 723-4727
[email protected]
Pacific Northwest
Suzanne Greer
+1 (206) 398-3339 [email protected]
Philadelphia
Diane Place
+1 (267) 330-6205 [email protected]
Rockies
Mike Manwaring +1 (720) 931-7411
North Texas
Steve
Schoonmaker
+1 (512) 708–5492 [email protected]
Washington Metro
Jamie Grow
+1 (703) 918–3458 [email protected]
Back Next
Introduction
Standard setting update
PCAOB update
Global tax law developments
European Union – State aid
SEC comment letters
Valuation allowance assessment
Indefinite reinvestment
Acquisition accounting
Disclosures
John Schmitt
US National Tax
Accounting Services Director
[email protected]
Kyle Quigley
National Practice
Tax Director
[email protected]
[email protected]
13
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