I've argued for some time that tax accounting is an area to which much more attention should be given, so I'm pleased to note that the SEC is on the case. I note that:
Google Inc. said in its annual report filed Thursday that it is involved in a yearlong unresolved tax dispute with the Securities and Exchange Commission.
Mountain View-based Google (NASDAQ:GOOG) said the SEC on March 16 questioned how it accounts for income taxes.
"We believe that we properly account for our income taxes. We will continue to work to resolve these comments with the SEC," Google said in the filing.
Google said it has corresponded with the agency as recently as January.
There's rather more on this sort of issue in 'Mind the Tax Gap'.
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