Tax Accrual

The financial reporting requirements relating to Accounting for Income Taxes has changed significantly in recent years. Many public companies do not have the in-house expertise or resources to prepare a complete and accurate tax provision in conjunction with their GAAP financial statements. Additionally, a company’s auditors are restricted by independence issues from providing assistance with the preparation of a tax provision calculation. We have the expertise to prepare the annual (10K) and quarterly (10Q) tax accruals as required under FAS 109 (Accounting for Income Taxes) for middle-market public companies. Additionally, we are able to assist companies with the implementation of FIN 48 - Accounting for Uncertainty in Income Taxes.

Our approach includes direct interaction with appropriate company personnel in the preparation of the following computations and documentation; current tax expense, deferred tax expense, valuation allowance analysis, tax contingency analysis, deferred tax assets and liabilities, tax account reconciliation, tax account true-up (prior year tax accrual), tax rate reconciliation, and tax footnote disclosure (10K). We gain a complete understanding of the existing computations and schedules in order to utilize existing financial models and worksheets. We work onsite to ensure communication and teamwork with the company.

In conjunction with a company’s FAS 109 requirements, we can assist with a company’s Sarbanes Oxley - Section 404 (SOx) compliance as it relates to the Tax Process and the related key controls.

Our tax experts have significant experience to assist you with your computations and documentation under FAS 109, FIN 48, and Sarbanes-Oxley Tax Processes.