Services

Accounting & Reporting for Income Taxes

WTAS has an extensive team of professionals who are highly qualified in accounting for income taxes and the various income tax statutes.

We understand the entire provision process from completing calculations and communicating with external auditors to completing disclosures. We advise public companies, multinational enterprises and private companies across the country in various capacities.

Accounting for income taxes and the related reporting and disclosures contained in financial statements require adherence to rules and guidelines prescribed by law, Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Standards Board (FASB). We understand how accounting and reporting for income taxes have become increasingly complex and continually assist our clients in staying abreast of regulatory changes and guidance.

The services that WTAS offers for accounting and reporting for income taxes are:

Income Tax Provision Outsourcing

WTAS can prepare, on behalf of your company, quarterly and annual income tax provisions from start to finish. We will also communicate internally and with the external auditors while drafting required disclosures.

Income Tax Provision Review

WTAS can review your company’s income tax provision on a quarterly and annual basis prior to submitting to the external auditors, or as a special project to take a fresh look at the income tax provision. WTAS wants to ensure your compliance with standards and be certain your provision documentation is audit-ready.

Income Tax Provision Consultation

WTAS can assist with determining the financial statement income tax reporting of special transactions or circumstances such as:

  • Mergers and acquisitions
  • Establishing a valuation allowance
  • Bankruptcy reporting and application of fresh-start accounting
  • Changes in and establishment of tax reserves
  • The U.S. tax impact and accounting for foreign operations

Income Tax Provision & Tax Compliance Integration

WTAS can assist you with streamlining your income tax provision and compliance. Through process, documentation and software review, WTAS will help you revise and refine your processes to work more efficiently and effectively based on available resources, technology and budgets.

Tax Control Assessment & Remediation

WTAS can help you establish and monitor practical and effective tax controls and provide assistance with remediation of areas of concern.