Slate of Big Four-Inspired Tax Accounting Tweaks Expected in May

When all Big Four accounting firms say the rules are confusing, chances are, they are.

So went the gist of the U.S. accounting rulemakers’ discussions April 10, when the Financial Accounting Standards Board agreed to release for public comment a slate of narrow tweaks to income tax accounting guidance in U.S. generally accepted accounting principles.

The proposal, expected to be released in May, will attempt to clarify several areas of guidance and get rid of some exemptions that spark confusion.

The issues came to the board’s attention in November 2017, when Deloitte LLP, KPMG LLP, PwC, and Ernst & Young ...