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In the case of intangible assets with indefinite lives, although in concept the deferred tax liabilities are a temporary difference, the underlying asset could remain on the balance sheet of the company indefinitely.
The real challenge to the consistent determination and reporting of tax liabilities in financial statements, he concluded, lies in the application of complex and nebulous tax rules to myriad facts and circumstances.
The proposed Interpretation, which would substantially modify FAS 109, (1) provides a theoretical approach for the consistent determination and reporting of income tax liabilities, assets, and expense relating to uncertain tax positions.
b) deferred tax liabilities and assets for future tax consequences of events that have been recognized in an enterprise's financial statements or tax returns.
Fund managers also determine what types of stocks to purchase-high dividend-paying stocks to which create additional tax liabilities for fund holders, or low-dividend-paying stocks.
With the reduction of regular income tax rates and increased credits and allowances lowering regular tax liabilities of individuals in the recent past, an increasing number of taxpayers are liable for AMT.
Its resolution will directly affect the tax liabilities of other businesses subject to California's tax system, and could indirectly affect the tax systems of other states.
The most frequent tax gaffe divorced African-Americans make is not looking at the tax liabilities that result from divorce.
the "Subsidiary") will pay certain tax liabilities that result to the Company from the transfer to Gary H.
The Fifth Circuit held the proper valuation of the plans to be the FMV of the marketable securities held (as determined by reference to applicable securities rates and the date of the decedent's death), but did not include a discount for associated income tax liabilities.
NEMO PERERA is a principal with Risk Capital Partners, a firm that specializes in structuring complex tax insurance policies in behalf of major corporations, thereby managing the tax liabilities associated with many corporate transactions.
The taxpayer would not be able to meet basic living expenses if his or her assets were liquidated to pay outstanding tax liabilities.