Taxes and ASC 842

When it comes to ASC 842 compliance, companies have been focused on determining the right-of-use asset and liability for balance sheet purposes. But changes to lease accounting rules also make determining tax timing differences more difficult. Getting the tax issues right means accessing massive amounts of data from disparate systems across your organization. Tracking down data concerning issues like free or deferred rent, tenant allowances and initial direct costs has gotten more complicated and more important. And organizations not only face the challenge of the initial conversion to the new rules, but of ongoing compliance going forward. Listen to our podcast to better understand the tax challenges of ASC 842 and to learn how companies are using powerful new tools to address them.