As we approach the end of 2016, companies should consider exploring opportunities to help minimize their 2016 tax bills and plan ahead for 2017. Our summary touches on topics that should have the most impact on the business community.
U.S. GAAP requires companies to calculate an income tax provision to report on its various income tax accounts. We highlight the top areas of concern and briefly explain what you can do in preparation for the income tax provision analysis in these areas.
In a flurry of year-end activity, Congress has approved the Tax Increase Prevention Act of 2014 (HR 5771). The new law extends so-called “tax extenders” retroactively for one year (through 2014). President Obama has indicated that he will sign both the Omnibus Agreement and H.R. 5771 bills as soon as they reach his desk. The […]