ASC 740 Income Taxes
E123143
ASC 740 Income Taxes is the U.S. GAAP accounting standard that provides comprehensive guidance on the recognition, measurement, presentation, and disclosure of income taxes in financial statements.
All labels observed (4)
| Label | Occurrences |
|---|---|
| ASC 740 Income Taxes canonical | 2 |
| ASC 740 | 1 |
| Accounting Standards Codification Topic 740 | 1 |
| FIN 48 Accounting for Uncertainty in Income Taxes | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T1080077 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: ASC 740 Income Taxes Context triple: [US GAAP, includesStandard, ASC 740 Income Taxes]
-
A.
Subtitle A – Income Taxes
Subtitle A – Income Taxes is the portion of the U.S. Internal Revenue Code that sets out the primary federal income tax laws for individuals, corporations, and other taxpayers.
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B.
Internal Revenue Code
The Internal Revenue Code is the comprehensive body of federal tax law in the United States that governs the assessment and collection of most national taxes.
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C.
Section of Taxation
The Section of Taxation is the American Bar Association’s primary professional group for lawyers and other practitioners specializing in federal, state, and local tax law.
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D.
Subchapter J
Subchapter J is the portion of the U.S. Internal Revenue Code that governs the income taxation of estates, trusts, and their beneficiaries.
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E.
Tax Court Rules of Practice and Procedure
The Tax Court Rules of Practice and Procedure are the procedural rules that govern how cases are conducted, filed, and adjudicated before the United States Tax Court.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: ASC 740 Income Taxes Target entity description: ASC 740 Income Taxes is the U.S. GAAP accounting standard that provides comprehensive guidance on the recognition, measurement, presentation, and disclosure of income taxes in financial statements.
-
A.
Subtitle A – Income Taxes
Subtitle A – Income Taxes is the portion of the U.S. Internal Revenue Code that sets out the primary federal income tax laws for individuals, corporations, and other taxpayers.
-
B.
Internal Revenue Code
The Internal Revenue Code is the comprehensive body of federal tax law in the United States that governs the assessment and collection of most national taxes.
-
C.
Section of Taxation
The Section of Taxation is the American Bar Association’s primary professional group for lawyers and other practitioners specializing in federal, state, and local tax law.
-
D.
Subchapter J
Subchapter J is the portion of the U.S. Internal Revenue Code that governs the income taxation of estates, trusts, and their beneficiaries.
-
E.
Tax Court Rules of Practice and Procedure
The Tax Court Rules of Practice and Procedure are the procedural rules that govern how cases are conducted, filed, and adjudicated before the United States Tax Court.
- F. None of above. chosen
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
U.S. GAAP accounting standard
ⓘ
accounting standard on income taxes ⓘ |
| addresses |
intraperiod tax allocation
ⓘ
tax effects of business combinations ⓘ tax effects of changes in tax laws or rates ⓘ tax effects of changes in tax status of an entity ⓘ tax effects of foreign operations ⓘ tax effects of intercompany transactions ⓘ |
| alsoKnownAs |
ASC 740 Income Taxes
ⓘ
surface form:
ASC 740
ASC 740 Income Taxes ⓘ
surface form:
Accounting Standards Codification Topic 740
|
| appliesTo |
not-for-profit entities reporting under U.S. GAAP
ⓘ
pass-through entities to the extent they are subject to income taxes ⓘ private companies reporting under U.S. GAAP ⓘ public companies reporting under U.S. GAAP ⓘ |
| codifiedFrom |
Statements of Financial Accounting Standards
ⓘ
surface form:
FASB Statement No. 109 Accounting for Income Taxes
ASC 740 Income Taxes self-linksurface differs ⓘ
surface form:
FIN 48 Accounting for Uncertainty in Income Taxes
|
| covers |
disclosure requirements for income taxes
ⓘ
measurement of current income tax liabilities and assets ⓘ measurement of deferred tax liabilities and assets ⓘ presentation of income taxes in financial statements ⓘ recognition of income tax expense or benefit ⓘ |
| defines | temporary differences between financial reporting basis and tax basis of assets and liabilities ⓘ |
| governs | accounting for income taxes under U.S. GAAP ⓘ |
| introduces | more-likely-than-not recognition threshold for tax positions ⓘ |
| issuedBy | Financial Accounting Standards Board ⓘ |
| jurisdiction |
United States of America
ⓘ
surface form:
United States
|
| providesGuidanceOn |
accounting for net operating loss carryforwards
ⓘ
accounting for tax credit carryforwards ⓘ balance sheet classification of income tax accounts ⓘ |
| requires |
classification of deferred tax assets and liabilities as noncurrent on the balance sheet
ⓘ
classification of interest and penalties related to uncertain tax positions in the financial statements based on an entity’s accounting policy ⓘ consideration of tax law changes that have been enacted as of the balance sheet date ⓘ disclosure of changes in unrecognized tax benefits ⓘ disclosure of significant components of deferred tax assets and liabilities ⓘ disclosure of tax years that remain subject to examination by major tax jurisdictions ⓘ disclosure of the amount of income tax expense or benefit allocated to continuing operations and other components of comprehensive income or equity ⓘ disclosure of the components of income tax expense or benefit ⓘ disclosure of the nature and effect of significant items in the rate reconciliation ⓘ disclosure of the total valuation allowance and significant changes in the valuation allowance ⓘ evaluation of uncertain tax positions ⓘ measurement of deferred taxes using enacted tax rates ⓘ recognition of current tax expense or benefit for the estimated taxes payable or refundable for the current year ⓘ recognition of deferred tax liabilities and assets for temporary differences ⓘ recognition of deferred taxes for temporary differences related to foreign subsidiaries unless specific exceptions apply ⓘ recognition of the largest amount of tax benefit that is more than 50 percent likely of being realized upon ultimate settlement ⓘ reconciliation of the statutory tax rate to the effective tax rate for public entities ⓘ separate disclosure of total amounts of unrecognized tax benefits ⓘ subsequent measurement of uncertain tax positions based on new information ⓘ valuation allowance for deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized ⓘ |
| subjectMatter | income taxes ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: ASC 740 Income Taxes Description of subject: ASC 740 Income Taxes is the U.S. GAAP accounting standard that provides comprehensive guidance on the recognition, measurement, presentation, and disclosure of income taxes in financial statements.
Referenced by (5)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
ASC 740
this entity surface form:
Accounting Standards Codification Topic 740
this entity surface form:
FIN 48 Accounting for Uncertainty in Income Taxes