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Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

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What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

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ASC 740 Tax Accounting and Provisions Services

Putting KPMG’s Accounting for Income Taxes experienced tax professionals at your fingertips

ASC 740 Tax Accounting and Provisions Services

Accounting for income taxes

Accounting for Income Taxes continues to be one of the leading causes of financial statement weakness, deficiencies and restatements. The critical audit matters communication in the auditor’s report continues to highlight the complexity and challenges companies have accounting for income taxes under ASC 740 and IAS 12.

Tax departments are expected to do more with less against the backdrop of accelerated reporting deadlines, business, legislative and regulatory changes, including adoption of new accounting standards, and global tax reform. These factors create a high-risk environment that tax leaders are required to manage.

The KPMG national ASC 740 Tax Accounting and Provisions Services (TAPS) offers a variety of integrated processes and technology solutions that can assist tax departments with their most complex challenges and needs through the deployment of highly technical experienced tax professionals, resident in KPMG offices throughout the US. The US teams liaise with our international colleagues to bring a global delivery of service to meet the needs of tax departments of multinational companies. These services are supported by the KPMG Washington National Tax Services group as well as our National Office. 

Our technical knowledge

Tax Accounting and Provisions Services bring a variety of experiences and solutions, technical analysis and transformation solutions to meet the needs of our clients.

Whether you are accounting for income taxes under US GAAP or IFRS, these services are tailored to meet your specific needs by assisting clients with:

  • Preparation (review) of quarterly and annual income tax provision, including:
    • accounting for uncertain tax positions,
    • accounting for business combinations or discontinued operations, 
    • valuation allowance analysis, 
    • and fresh start accounting
  • Co-source solutioning 
  • Tax process redesign
  • SOX control redesign and remediation
  • Data collection and management
  • “On-call” accounting for income tax consultation
  • Tax provision software implementation
  • Loan staff

Tax provision scenarios are unique to each company. Our highly technical team brings a tailored approach to meet the specific business needs of each client we serve. TAPS is well equipped to tailor a solution to address the specific needs and objectives of your tax function.

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Stay up to date with KPMG publicat

Accounting for Income Taxes Bulletin

Accounting for Income Taxes Bulletin

Stay up to date with publications, podcasts, and webcasts

This publication is issued by KPMG's Accounting for Income Taxes group in Washington National Tax to highlight developments and other items of interest to professionals involved with accounting for income taxes matters.

Handbook: Accounting for income taxes

Handbook: Accounting for income taxes

Latest edition: KPMG explains the accounting for income taxes in detail, providing examples and analysis.

TaxNewsFlash

TaxNewsFlash

Summaries of the latest tax developments pertaining to the United States and U.S. industry sectors as well as developments being reported by KPMG firms from around the globe.

KPMG TaxRadio

KPMG TaxRadio

Looking for insights on the latest tax news? Find it here by listening to KPMG podcasts curated especially for tax professionals.

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Meet our team

Image of Amy Walker
Amy Walker
Partner, Tax , KPMG US

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