Where Does This Go? Accounting for Tax Credits

When evaluating the accounting consequences of tax credits, an entity needs to consider the underlying characteristics of the credit, the entity's intent for utilizing or transferring the credit, and determine if accounting policies have been previously established. Entities also should consider if any financial statement disclosures are necessary. 

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• New and Recently Updated Practical Guidance Content
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  • International Tax Consequences of Cryptocurrency Developments
  • Inflation Reduction Act of 2022: Tax Provisions
  • Statute of Limitations for Tax Returns (No Substantial Omissions)
  • Unauthorized Disclosure of Taxpayer Information (IRC Sections 6103 and 7431)

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