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Deloitte's Roadmap: Income Taxes

Income Taxes

This Roadmap provides Deloitte’s insights into and interpretations of the income tax accounting guidance in ASC 740. The 2021 edition includes new guidance and editorial enhancements to reflect our latest thinking and input from standard setters and regulators.

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  • US GAAP
This Roadmap provides Deloitte’s insights into and interpretations of the income tax accounting guidance in ASC 740. The income tax accounting framework has been in place for many years; however, views on the application of that framework to current transactions continue to evolve because structures and tax laws are continually changing. Therefore, use of this Roadmap, though it is intended as a helpful resource, is not a substitute for consultation with Deloitte professionals on complex income tax accounting questions or transactions.
The body of this Roadmap combines the income tax accounting rules from ASC 740 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. The Roadmap reflects Accounting Standards Updates (ASUs) issued by the FASB through October 2021, and includes pending content from recently issued ASUs. Readers should refer to the transition guidance in the FASB Accounting Standards Codification or in the relevant ASU to determine the effective date(s) of the pending guidance.
Each chapter of this publication typically starts with a brief introduction and includes excerpts from ASC 740 or related guidance, Deloitte’s interpretations of those excerpts, and examples to illustrate the relevant guidance. Some of the calculations in the examples use rounded numbers for simplicity. The 2021 edition of this Roadmap includes new guidance and editorial enhancements to reflect our latest thinking and input from standard setters and regulators (see Appendix I for details) as well as On the Radar, a new section that briefly summarizes emerging issues and trends related to the accounting and financial reporting topics addressed in the Roadmap.