Accounting for income taxes: Book vs. tax basis differences
WHITE PAPER | December 12, 2023
Authored by RSM US LLP
This whitepaper is the first in a series of whitepapers to be used as a resource in understanding and analyzing the accounting for income taxes under FASB Accounting Standards Codification (ASC) 740, Income Taxes. This whitepaper addresses how to identify temporary and permanent differences and net operating loss and tax credit carryforwards, which is one of the many aspects of accounting for income taxes. This whitepaper does not address every aspect of accounting for income taxes and should therefore be read in conjunction with ASC 740, Income Taxes.
This article was written by RSM US LLP and originally appeared on 2023-12-12.
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