22 December 2017 SEC acts on tax reform The Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin (SAB) 118 — Income Tax Accounting Implications of the Tax Cuts and Jobs Act, and Compliance and Disclosure Interpretation 110.02, addressing US tax reform, which was enacted yesterday, December 22, 2017. This guidance provides an alternative model for companies to consider in accounting for the most significant change in US tax legislation in the last 30 years. The SEC previously acknowledged the operational and accounting challenges companies may face if US tax reform were enacted.
Document ID: 2017-2204 | |||||||||||||||||||||||||||||||||
