{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/740/20/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"740","topic_title":"Income Taxes","subtopic":"740-20","subtopic_title":"Intraperiod Tax Allocation","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"740-20-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">Subtopic <a altsource=\"GUID-3B0818A8-1B9D-4530-82D4-22D4284B582F.ditamap\" class=\"ditamap\">740-10</a> addresses the majority of accounting requirements for <a href=\"/glossary/i/#income-taxes\" class=\"term\" title=\"Domestic and foreign federal (national), state, and local (including franchise) taxes based on income.\"><span>income taxes</span></a>. That Subtopic also establishes the methods and requirements for computing total income tax expense or benefit for an entity.</div></div>","snippet":"Subtopic 740-10 addresses the majority of accounting requirements for income taxes. That Subtopic also establishes the methods and requirements for computing total income tax expense or benefit for an entity.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d3b373a9e702baae3e9e839c8f7a8bd342243af34a644618fd121aeb3ade2376","downloaded_from":"2026-09-10T01:17:25.147Z","last_downloaded_at":"2026-09-10T01:17:25.147Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482535","source_sha256":"c37e53aa0f7f3a9bf15e3358cf35aed90d4d34772dae114c812aad6871945f20"}},{"citation":"740-20-05-2","para":"05-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic addresses the process of intraperiod tax allocation that allocates total income tax expense or benefit of an entity for a period to different components of comprehensive income and shareholders' equity. <span class=\"sfragment\" id=\"sfr_0EEA4C09-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This includes allocating income tax expense or benefit for the year to: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_0EEA4DBB-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Continuing operations </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_0EEA4F04-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Discontinued operations </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\"><a href=\"/updates/asu-2015-01/\" class=\"xref\">Subparagraph superseded by Accounting Standards Update No. 2015-01</a>.</div></li><li class=\"li-norm\"><span class=\"linum\">d</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_0EEA503E-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Other comprehensive income </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">e</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_0EEA5183-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Items charged or credited directly to shareholders' equity. </span></span></div></li></ol>This Subtopic provides guidance on the method for making those allocations of total income tax expense or benefit and provides several examples and illustrations.</div></div>","snippet":"This Subtopic addresses the process of intraperiod tax allocation that allocates total income tax expense or benefit of an entity for a period to different components of comprehensive income and shareholders' equity. Thi…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a513debd35be0723e7e351c31b0195a34c9be71701d0c7bca02addab49e48a10","downloaded_from":"2026-09-10T01:17:25.147Z","last_downloaded_at":"2026-09-10T01:17:25.147Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482535","source_sha256":"c37e53aa0f7f3a9bf15e3358cf35aed90d4d34772dae114c812aad6871945f20"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:53343c3d876aca6e2324ed190649a6194419f3b102839373756bb190bbf454d2","downloaded_from":"2026-09-10T01:17:25.147Z","last_downloaded_at":"2026-09-10T01:17:25.147Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482535","source_sha256":"c37e53aa0f7f3a9bf15e3358cf35aed90d4d34772dae114c812aad6871945f20"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c449bc2222b94260992adb3d95127939d090df3dc67e69b8dae5946f94c01e4","downloaded_from":"2026-09-10T01:17:25.147Z","last_downloaded_at":"2026-09-10T01:17:25.147Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482535","source_sha256":"c37e53aa0f7f3a9bf15e3358cf35aed90d4d34772dae114c812aad6871945f20"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c449bc2222b94260992adb3d95127939d090df3dc67e69b8dae5946f94c01e4","downloaded_from":"2026-09-10T01:17:25.147Z","last_downloaded_at":"2026-09-10T01:17:25.147Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482535","source_sha256":"c37e53aa0f7f3a9bf15e3358cf35aed90d4d34772dae114c812aad6871945f20"}}