Please be advised that contacting Ruder Ware by e-mail does not create an attorney-client relationship. If you contact the firm by e-mail with respect to a matter where the firm does not already represent you, any information which you disclose to us may not be regarded as privileged or confidential.


Accept   Cancel

Please be advised that contacting Ruder Ware by e-mail does not create an attorney-client relationship. If you contact the firm by e-mail with respect to a matter where the firm does not already represent you, any information which you disclose to us may not be regarded as privileged or confidential.


Accept   Cancel

PAL Login

linkedin.jpgyoutube.jpgvimeo.jpgtwitter_off.png View Ruder Ware

Banking and Financial Matters Blog

Interagency Guidance on Accounting and Reporting Implications of Tax Cuts & Jobs Act

Authored by Amy E. Ebeling
Amy E. Ebeling
Attorney
Wausau Office

Posted on February 19, 2018
Filed under Banking and Financial Matters

On January 18, 2018, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency released guidance on the accounting implications of the Tax Cuts & Jobs Act (the “Act”) signed into law on December 22, 2017.  The guidance provides information on the effect of the Act on deferred tax assets, deferred tax liabilities, valuation allowances, amounts recognized in accumulated other comprehensive income, regulatory capital, and the preparation of regulatory reports.  Because the Act was signed into law prior to December 31, 2017, the effects of the Act must be reflected in December 31, 2017 regulatory reports.  For more information, click here to read the guidance.