Accounting for Income Taxes ASC 740: Tax Provisions, Uncertain Tax Positions, Valuation Allowances, ASU 2019-12
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will analyze the components of accounting for income taxes, including determining current versus deferred provisions, reporting uncertain tax positions, financial statement presentation, recently released ASU 2019-12, and the effects of COVID-19 relief on these components.
Outline
- Impact of tax reform on ASC 740
- Impact of COVID-19 relief on ASC 740
- Current tax provision
- Deferred taxes
- Valuation allowances
- Uncertain tax positions
- ASU 2019-12
- Financial statement presentation
- Best practices
Benefits
The panel will review these and other critical issues:
- Application and effective date of ASU 2019-12
- Recalculating deferred and current tax provisions for tax reform changes to foreign tax
- Criteria for recognition of uncertain tax positions
- The definition of a tax under ASC 740
- The impact of new net operating loss carryforward rules on tax provisions
Faculty

Daniel Newton
Partner, National Tax Office
BDO USA
Mr. Newton is the ASC 740 Technical Practice Leader in BDO’s National Tax Office in addition to serving as a... | Read More
Mr. Newton is the ASC 740 Technical Practice Leader in BDO’s National Tax Office in addition to serving as a consultant in the firm’s National Assurance ASC 740 group. As the technical practice leader, he supports BDO’s Tax practice on ASC 740 matters, and as the Northeast regional consultant, Mr. Newton conducts formal ASC 740 consultations for assurance teams on various technical matters. In his dual role, Mr. Newton is responsible for firm leadership regarding ASC 740 matters for both tax and assurance, including training development, technical advice, and thought leadership tools.
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Michael Williams
Income Tax Provision Services (ASC 740) Partner & National Practice Leader
BDO USA
Mr. Williams has more than 25 years of broad corporate tax experience and has worked in both Big Four public accounting... | Read More
Mr. Williams has more than 25 years of broad corporate tax experience and has worked in both Big Four public accounting and industry. He possesses extensive federal, state and international corporate tax experience, encompassing tax reporting/ASC 740, tax compliance, tax planning and tax operations. Mr. Williams has worked with companies ranging in size from large, multibillion dollar, publicly traded companies to emerging market/growth companies. His clients include companies in a range of industries, including manufacturing, medical devices, pharmaceuticals, technology, communications, software, distribution, retail and more.
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