The Key to Achieving ASC 740 Compliance
Windes provides ASC 740 services and income tax provision support for companies that need accurate, timely, and well-documented tax accounting under U.S. GAAP. Our tax specialists help finance and tax teams address complex provision issues, deferred tax accounting, uncertain tax positions, quarterly provisions, and tax footnote disclosures.
ASC 740 compliance can be difficult to manage with limited internal resources, especially when transactions, stock compensation, valuation allowances, multi-state activity, or legislative changes create added complexity. Windes works with your team and external auditors to support a smoother tax provision process.
Our ASC 740 specialists help companies improve documentation, reduce restatement risk, support internal controls, and prepare for reporting deadlines.
WEBINAR | ASC 740 Tax Accounting for Recent Legislative Changes
Watch our most recent webinar covering ASC 740 tax accounting for recent legislative changes, including the Inflation Reduction Act, ERC, Section 174 R&D Capitalization, Pass-Through Entity Taxes, and more!
Connect with Windes today to speak with a professional about ASC 740 compliance.
Windes ASC 740 Expertise
Due to the U.S. Securities and Exchange Commission (SEC) restricting accounting firms from providing tax provision services to their audit clients, public companies are faced with the increased challenge of using internal resources to report income taxes in accordance with ASC 740. For many businesses, this is simply not a feasible solution to implement.
Windes understands that your company’s in-house accounting team may not have the expertise and experience to handle such a complex tax situation. Our tax professionals have expert technical knowledge across various industries regarding accounting for income taxes and reporting under ASC 740. We work diligently with you and your external auditors to ensure your income tax reporting is seamless and accurate. Areas we can assist in include:
- Tax Provision Implementation and Compliance
- FIN 48 Analysis (Accounting for Uncertain Tax Positions)
- Quarterly Provisions
- Valuation Allowance Calculations
- Foreign Income Tax Considerations
- Assessing Merger and Acquisition Impacts
- Documenting Internal Controls
- Stock Option Issues
- Tax Footnote Disclosures
The Windes ASC 740 Team
ASC 740 can be difficult for even the most tenured financial professional to navigate. Let our team of experts help your business achieve ASC 740 compliance right the first time.
Doug Beaver
Partner, Tax
Jeff Fields
Partner-in-Charge, Tax – Irvine
Frequently Asked Questions
ASC 740 governs how companies account for income taxes in financial statements under U.S. GAAP, including current tax expense, deferred taxes, and uncertain tax positions.
A company should seek ASC 740 support when its tax provision is complex, internal resources are limited, external auditor requests are increasing, or transactions create additional reporting requirements.
Windes can assist with tax provision implementation, quarterly provisions, FIN 48 analysis, valuation allowances, foreign tax considerations, M&A impacts, internal controls, and tax footnote disclosures.
