This session will focus on the income tax accounting (ASC 740) and financial statement impacts of the Tax Cuts and Jobs Act of 2017. In addition to a refresher on the overall framework, the session will focus on areas of particular concern for corporations during the 2018 and 2019 reporting periods. The session will also briefly touch on tax considerations of ASC 606 (revenue recognition) and ASC 842 (lease accounting).
Learn the ongoing financial statement implications of tax reform
Discover potential pitfalls and problems areas relevant to 2018 and 2019 financial statements
Understand the income tax accounting implications of ASC 606 and ASC 842
Phil Laminack is a Senior Manager with DHG, focusing on federal, state, and international tax matters for public and private corporations. Phil has 13 years of experience in public accounting, serving clients in the retail, manufacturing, pharmaceutical, energy, financial services, and hospitality industries. Phil has extensive experience managing the tax compliance and reporting function for large, multinational businesses. He also has a strong background in accounting for income taxes under ASC 740 (f/k/a FAS 109) and in resolving tax controversy. Phil routinely serves as a conference speaker on topics related to ASC 740 and has been published in The Tax Advisor®. He holds a BBA from Kennesaw State University and a MAcc from the University of Georgia.