ASC 740 Quarterly Update Q1 2026: Key Tax Accounting Changes
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ASC 740 Quarterly Update Q1 2026: Key Tax Accounting Changes

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What are the most important ASC 740 developments in Q1 2026? The ASC 740 quarterly update 2026 covers five major areas: Rev. Proc. 2026-17 election relief for bonus depreciation, new CAMT AFSI guidance, tariff accounting under IEEPA, section 987 FX final regulations, and significant multistate legislative activity across 28 states. The first quarter of 2026…

Corporate Alternative Minimum Tax 2026: Notice 2026-7 AFSI Guidance Explained
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Corporate Alternative Minimum Tax 2026: Notice 2026-7 AFSI Guidance Explained

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What does IRS Notice 2026-7 change about the corporate alternative minimum tax? Notice 2026-7 provides additional interim guidance on the CAMT, focusing on adjusted financial statement income (AFSI) adjustments for tax-deductible repairs, Section 197 intangibles, domestic research amortization under Section 174A, film and TV production costs, and low-cost materials. It also modifies troubled company guidance…