The proposed ASU would require entities to provide more disaggregated information about cash taxes paid (for example, by jurisdiction) and would prescribe specific categories entities would have to include withi
The proposed ASU would expand the income tax rate reconciliation disclosure and income taxes paid information to address investor requests for more transparent income tax disclosures. The proposed amendments would apply to all entities subject to income taxes, with certain proposed disclosure requirements ...
The credit rate that you can apply depends on your AGI and filing status. If your income rises above the maximum AGI limit, you can’t claim the credit. For the 2024 tax year, the maximum AGI limits were $76,500 for married couples filing jointly; $57,375 for heads of household; and...
Address the most significant change in global taxation by assessing Pillar Two top-up tax liability. The solution provides end-to-end capabilities for top-up tax calculations, including Global Anti-Base Erosion (GloBE) Rules, covered tax, effective tax rate reconciliation, and tax liability determin...
ASU 2023-09 & ASC 740: New Income Tax Disclosures, Rate Reconciliation and Income Taxes Pa... May 22, 2025 • CPE • Live Webinar This program is included with the Strafford CPE Pass. Click for more information. This program is included with the Strafford CPE+ Pass. Click for more...
ASU 2023-09 & ASC 740: New Income Tax Disclosures, Rate Reconciliation and Income Taxes Pa... May 22, 2025 • CPE • Live Webinar This program is included with the Strafford CPE Pass. Click for more information. This program is included with the Strafford CPE+ Pass. Click for more...
However, IAS 12 does not require the disclosure of this amount, and only 16% of our observations disclose it voluntarily. Thus, we calculate TLCF by grossing deferred tax assets recognized for TLCF. If the tax rate is disclosed, we divide deferred tax assets for TLCF by the tax rate ...
Purpose International Accounting Standard (IAS) 12 requires the disclosure of a tax reconciliation (TR). The purpose of the TR is to explain the differences between the corporate effective tax expense and the corporate theoretical tax expense. In this paper, the authors investigate which ...
The recommendations, sent Tuesday in a letter to Treasury and the IRS, include that the IRS expressly allow taxpayers to rely on proposed regulations until they are final.May 22, 2025 House passes budget reconciliation bill with changes to tax provisions Early Thursday morning, the House of Re...
As mentioned above, the offer in compromise (OIC) program has an impressive compliance rate. Unfortunately, a lack of staffing has limited the benefits of the OIC program (source). The Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA 2005) clarified the rules that regulate the ...