1. WILL INTANGIBLES TRIP YOU UP?
- Author
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ADAMS, MOLLIE T., INGER, KERRY K., and MECKFESSEL, MICHELE D.
- Subjects
CORPORATE tax accounting ,RESTATEMENT of corporate earnings ,TAXATION of mergers & acquisitions ,TAXATION of intangible property ,VALUATION of intangible property ,TAXATION of goodwill (Commerce) ,INTERNAL revenue law ,TAX laws - Abstract
The article discusses problems with intangibles related to income tax accounting that lead to the restating of corporate financial statements. Topics include U.S. tax law in Internal Revenue Code (IRC) sections 197 and 338 in relation to mergers and acquisitions, deferred tax assets and liabilities related to acquisitions, and the roles of goodwill and valuation allowances in income tax calculations.
- Published
- 2015