Welcome To TaxFunction.com
Integrated Tax LifecycleThe Tax Lifecycle is a continuous progression generally started with an enterprise’s annual income tax provision and continuing through the planning and forecasting phases. The process is tied to various regulatory deadlines and must be adhered to.
Provision & Financial Statement AuditAt the close of every year and quarter, companies recognize income tax expense or benefit in accordance with FASB Accounting Standards Codification 740, Income Taxes (ASC 740). ASC 740 prescribes the methodology for the recognition, measurement and disclosure of income taxes.
ExtensionsDue to the time constraints endured during the compressed tax accounting close, enterprises generally extend their tax compliance obligations to afford additional time to file income tax returns.
Estimated Tax PaymentsCompanies need to comply with various federal, state, local and country specific rules and regulations to remit estimated tax payments periodically throughout the tax year.
Tax ComplianceCompanies prepare and file their annual income tax returns following a set of jurisdiction-based complex rules and regulations which are subject to ongoing change.
Budgeting & ForecastingDue to the generally large cash outlays required during the tax year, tax obligations should be forecasted to ensure coordination with overall business operations.
Tax Planning & ReportingAs one of the largest expenses on a company’s income statement, income tax planning is necessary to ensure obligations are met without sacrificing tax efficiency.
Amended Tax ReturnsDue to a multitude of factors, companies may be required to amend previously filed tax returns that may increase or decrease the amount of tax previously reported.
Tax Authority Audits & DefenseTax returns are subject to the scrutiny of the various taxing jurisdictions in which a company operates or may be deemed operating.
- U.S. Tax News
- International Tax News
- AICPA.Org Tax
- AICPA.Org Standards
- Journal of Accountancy
- The Tax Advisor
The IRS has extended disaster tax relief to the entire state of Georgia as part of its coordinated federal response to the damage caused by severe storms and flooding.
The World Bank has released French and Spanish translations of its Toolkit on the taxation of offshore indirect transfers and extended the deadline for feedback to October 20.
Finance Minister Paschal Donohoe has said that Ireland's personal tax system "is not economically efficient and is not sustainable."
So-called tax inversions could cost the US Government up to USD12bn in lost corporate tax revenues by 2027, a new report from the Congressional Budget Office says.
The IRS must take further action to reduce the risk of employment tax fraud for US businesses that use third-party payers, according to a new report from Treasury General for Tax Administration (TIGTA).
- View All Feeds
The Swedish Government has announced a number of tax measures in the Budget for 2018, including new rules for employee stock options and corporate interest deductions.
Switzerland has released a revised version of the value-added tax law, incorporating amendments that will enter into force from January 1, 2018.
Upon leaving the EU, there is no need for the UK or the EU to introduce tariffs on cross-border trade where there are none now, Theresa May, the UK Prime Minister, has said, setting out her idea of how Brexit should play out.
Irish Finance Minister Paschal Donohoe has warned that the imposition by the EU of separate tax rules for the digital economy risks double taxation and greater uncertainty.
The Chartered Institute of Taxation has proposed improvements to the UK's Disincorporation Tax Relief.
- View All Feeds
Monthly tax news for July 2017 that includes a Letter from the AICPA Tax Executive Chair, Annette Nellen, the latest on tax reform, an update on Sec. 7345 passport legislation, and much more.
This series of frequently asked questions (FAQs) explains several privileges and protections that are relevant to a CPA who provides tax services, including the concept of attorney-client privilege, its implication on CPAs, and the use of Kovel arrangements
webpage providing guidance and resources on contacting the IRS
Identity theft is a growing area of concern for taxpayers and practitioners. The AICPA has created this page to provide members with information about preventing identity theft, including tips to provide clients, and steps to take if it occurs.
Tax Section webcasts, presentation slides, and handouts are archived and available for Tax Section members to watch on-demand (without CPE) for one year following the live event.
- View All Feeds
Meeting Date: August 1-4, 2016 Milwaukee, WI Milwaukee Marriott Downtown Hotel 323 East Wisconsin Avenue Milwaukee, WI 53202 Please visit the hotel website for more information regarding this hotel, such as amenities, restaurants, directions, etc. You can make
September 11, 2017 Auditing Standards Board Conference Call Meeting
Agenda Agenda Item #1 -Discussion Memorandum - Selected Procedures Agenda Item #1A - Draft proposed SSAE, Selected Procedures - clean Agenda Item #1B - Draft proposed SSAE, Selected Procedures - redline to show changes from the draft presented to the ARSC in
Meeting Date: 16-19, 2017 Dallas, TX Warwick Melrose - Dallas 3015 Oak Lawn Ave. Dallas, TX 75219 Please visit the hotel website for more information regarding this hotel, such as amenities, restaurants, directions, etc. You can make reservations online or you can call the hotel at
Meeting Date: July 17-20, 2017 Denver, CO The Inverness Hotel and Conference Center 200 Inverness Drive West Englewood, CO 80112 Please visit the hotel website for more information regarding this hotel, such as amenities, restaurants, directions, etc. Please
- View All Feeds