Taxes become deferred when a company's financial accounting methods are different than the acceptable tax accounting methods. This creates a discrepancy between the general ledger and the amounts ...

Accrual accounting, a system of accounting designed to account for sales and expenses in the period they were incurred, allows certain expenses, assets, and sales to be deferred to the next accounting ...

Our Federal Tax Group discusses the tax treatment of deferred revenue or advance payments in M&A transactions. The tax treatment of deferred revenue differs from the treatment for financial accounting ...

Late on Friday, the IRS issued much-anticipated guidance on the payroll tax deferral that was ordered by President Donald Trump in a presidential memorandum on Aug. 8 (Notice 2020-65). The notice ...

In the United States, companies can maintain two separate sets of books for financial and tax purposes. Since financial and tax accounting rules differ, temporary differences can arise between the two ...