Accounting for Income Taxes

Whether executing a transaction or complying with periodic financial reporting requirements, responding to the evolving regulatory environment creates challenges in ensuring accuracy and efficiency in the global tax provision process. Riveron provides proven income tax accounting management solutions to address the ever-changing tax laws so companies stay ahead of the curve when managing ASC 740 complexities.

Riveron’s team of highly experienced professionals have a broad understanding of tax law, corporate income tax accounting requirements, and the process of documenting and supporting uncertain tax positions. Our team provides a comprehensive approach to navigate the ASC 740 maze to create an efficient process and mitigate inherent risks. Since we are not bound by Sarbanes-Oxley related conflicts, we are independent partners assisting accounting firms and leading companies through identifying, analyzing, and concluding on complex tax accounting and financial reporting matters.

Meeting Obligations When Accounting for Income Taxes

The basic principles of income tax accounting are to ensure that some basic objectives are being met as they pertain to ASC 740. These include recognizing current tax liabilities or assets for estimated taxes for the current year, measuring current and deferred tax assets and liabilities based on provisions of enacted laws, and recognizing valuation allowances for deferred tax assets.

Our ASC 740 tax provision consulting services help ensure that your company meets all its obligations. Given the importance of properly accounted for tax provision in financial reporting, having an outside advisor that can guide you through all the complexities can be extremely valuable. With our income tax accounting experts by your side, you can rest easier.

We partner with companies, private equity firms, and accounting firms to manage accounting for income taxes, including:

• Quarterly and annual income tax provisions​
• Valuation allowance analysis​
• Uncertain tax position analysis
• Internal controls
• Financial restatements
• Tax basis calculations and analysis​
• Legal entity optimization​
• Cash tax and ETR optimization​
• Transaction cost analysis​ and post-transaction integration
• Tax attribute analysis and planning​

If you’re ready to learn more about how Riveron can assist with your income tax accounting needs, consult with one of our tax experts today to learn more.