This study examines the tax reporting consequences of financial reporting discretion. Using a matched sample of financial statements with tax returns, I provide estimates of the accuracy of tax return information inferred from financial statements. To examine the tradeoffs between financial and...

This study examines the tax reporting consequences of financial reporting discretion. Using a matched sample of financial statements with tax returns, I provide estimates of the accuracy of tax return information inferred from financial statements. To examine the tradeoffs between financial and...

Examines the record of accuracy of receipt, outlay, and deficit estimates derived from administration forecasts to determine the historical reliability of each agencies estimates.

Discussion of the effect of TRA '86 on choice of business entity. Traces the growth in S corporation returns filed (17.5 percent per year from 1986-90), and considers implications that smaller firms have achieved their own integrated corporate tax. Outlines the changes in the incentives facing...

In this paper, we review the history and purpose of the corporation income tax return’s Schedule M–1 in light of recent attention to corporate reporting issues. Although the traditional role for the schedule has been to assist the audit process, the reconciliation of book to tax accounting...

This paper addresses the measurement differences between financial and tax reporting with an emphasis on the role each can have in gaining a better understanding of the other. The additional information provided by book–tax reporting differences can help tax administrators in determining...

This paper provides a description of how information from multiple disciplines can inform the study of corporate tax policy. It first highlights the specific strengths that economics, law, and accounting each have in understanding taxpayer behavior. It then shows how theoretical and empirical...

This paper presents a new reconciliation of financial to taxable income, drawing from public financial statement and Schedule M-3 data for a panel of firms. The reconciliation compares the financial statement income of a firm’s consolidated financial statement entities to the financial...

We study the determinants of losses and their increased frequency over time to understand their implications for the use of financial statements in valuation. We find the properties of losses change between 1971-2000 both in terms of the cash flow and accruals components. Departing from prior...