Accounting for Income Taxes

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The primary objective of ASC 740 (formerly known as "Statement 109: Accounting for Income Taxes" or "FAS 109") is to recognize the amount of taxes payable or refundable for the current year and the deferred tax assets and liabilities relating to the future tax consequences of events that have been recognized in a company’s financial statements or tax returns. One of our Urish Popeck professionals can assist you by using a set of financial accounting and reporting standards for the effects of income taxes that result from a company’s activities during the current and preceding years.

The unique aspect of Urish Popeck’s approach to providing ASC 740 and Uncertain Tax Position services is the team’s collaboration with BDO USA’s National Accounting practice for consultation on GAAP matters. This cooperation enables the ASC 740 team members to effectively influence, monitor and promptly respond to developments by the PCAOB, SEC, FASB and AICPA, and other such guidance impacting the interpretation of accounting for income taxes.

Related Service: Tax Compliance