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Completing The Regional Interim Tax Process

The following table outlines the ASC 740 interim tax process in Tax Provision:

Note: If an owner of a partnership is locked for input, the partnership calculations will fail if changes are submitted to the partnership entity. You can correct this by running the failed partnership calculations for the partnership entity from the Tax Calculations interface once the lock on the owner is released.

Step Input apps/reports to use...

  1. Update and review the regional forecast current provision.

Current Provision Forecast input app (RF0201)

Current Provision Regional Forecast report (RF0201)

  1. Update and review the regional forecast gross temporary difference rollforward activity.

Temporary Differences Forecast input app (RF0301)

Temporary Differences Forecast report (RF0301)

Temporary Differences Forecast - Scheduling report (RF0302)

Temporary Difference Classification Forecast report (RF0304)

  1. Review the Deferred Tax Rollforward regional forecast reports.

Deferred Tax Rollforward Forecast report (RF0401)

Deferred Tax Rollforward Forecast - Scheduling report (RF0402)

Deferred Tax Rollforward Interim report (RF0403)

Deferred Tax Classification Interim report (RF0404)

Deferred Tax - for Tax Account Rollforward Interim report (RF0405)
  1. Review the interim ETR and input discrete items.

ETR and Discrete Items Interim input app (RF0803)

ETR and Discrete Items Interim report (RF0803)

  1. Review the forecast tax expense.

Forecast Tax Expense report (RF0802)

  1. Review the consolidated current and deferred regional interim effective tax rates.

Consolidated Current Effective Rate Interim report (RF0805)

Consolidated Deferred Effective Rate Interim report (RF0806)

  1. Review the interim allocation.

Interim Allocation report (RF0804)

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