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June 29, 2023

EY publication highlights accounting implications of 2023 Q2 income tax developments

The Quarterly tax developments for the quarter ended June 30 is attached below. Prepared by Ernst & Young LLP's Tax Accounting group, this publication provides a quarterly overview of enacted tax legislation, as well as regulatory developments and other items through June 13, 2023, except as noted. Highlights of this edition include:

 — Tax legislation enacted this quarter

 — Tax legislation and treaties effective this quarter

 — Other developments to consider for the quarter

 — Things we have our eyes on

 — FASB’s proposed improvements to income tax disclosures

 — Proportional amortization method for equity investments in tax credit programs

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 — For more information about EY's Tax Accounting services, visit us at

 — For more information about EY's Tax Accounting University education program for clients, visit us at


Contact Information
For additional information concerning this Alert, please contact:
Tax Accounting and Risk Advisory Services
   • Angela Evans (
   • George Wong (

Published by NTD’s Tax Technical Knowledge Services group; Maureen Sanelli, legal editor


Quarterly Tax Accounting Developments for Q2 2023