Income Tax Accounting

Today’s Regulated World Calls for the Right Income Tax Accounting Partner

Today’s regulatory and legal environment has complicated the way many companies approach income tax accounting. The ever-changing tax laws and threat of restatement, coupled with tight timelines and complexities of the provision process make it more important than ever to have an expert on your side.

Our professionals ensure that your income tax accounting and tax planning strategies integrate seamlessly with your overall financial picture. We understand provisions from not only the tax perspective, but also from the accounting side of the equation. After taking the challenges of income tax accounting off of your hands, we tailor an individual solution to make the process as painless and efficient as possible.

More than Just a Tax Return

At PKM, we understand your business, and we see your income tax accounting as more than just a tax return. We assist clients with their income tax accounting through not only implementation and compliance, but also evaluating positions according to their technical merits. Through calculating the maximum benefit available for positions held to the “more-likely-than-not” (MLTN) standard, we also assess uncertain tax positions across multiple jurisdictions. In addition, we prepare and review financial statement disclosures or footnotes related to tax provision as well as quarterly and inter-period accounting.

At PKM, our approach to income tax accounting is unique in that we work closely with your external auditors to apprise them early of any significant positions, as well as management’s desired course of action. As such we are able to avoid excessive communication and unwelcomed changes on the back end.

Our income tax accounting services include:

  • Effective rate planning & analysis for multistate and multinational companies
  • Deferred inventory tracking & valuation analysis
  • ASC 740-10-50 (Uncertainty in Income Taxes)
  • Staff outsourcing/co-sourcing

Compliance Corner

Update 2016-09—Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting

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