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- Title
Book Tax Conformity for Financial Instruments/Book-Tax Conformity and the Corporate Tax Shelter Debate: Assessing the Proposed Section 475 Mark-to-Market Safe Harbor.
- Authors
Edgar, Tim
- Abstract
Provides an overview of the tax literature in book-tax conformity in the U.S. context focusing on the application of mark-to-market valuation for income tax purposes to certain financial instruments and swap transactions. Criticisms against the financial instruments tax policy makers have developed independently of financial accounting standards and practices; Key elements required for a reliable financial accounting; Factor which can be used to manipulate tax liabilities.
- Subjects
UNITED States; TAX accounting; INCOME tax; FINANCIAL instruments; SWAPS (Finance); ACCOUNTING standards; FISCAL policy
- Publication
Canadian Tax Journal / Revue Fiscale Canadienne, 2005, Vol 53, Issue 4, p1149
- ISSN
0008-5111
- Publication type
Article