OUR SERVICES – TAX ACCOUNTING SUPPORT
The Internal Revenue Service (“IRS”) has issued regulations, rulings, and tax audit memoranda addressing specific subjects pertinent to the taxation of payment instruments and cards. When applied, these rules may result in tax accounting differing from accounting per GAAP.
Card Compliant offers support services regarding the tax rules. Our services are supported by our proprietary technology systems designed to process the applicable standards to provide various metrics and information to support tax return preparation along with reconciliation of tax and GAAP.
Our Range: We address Tax metrics – Prepayments for Future Goods & Service – One Year Deferrals – Two Year Deferrals – Deposits Underlying Instruments – Reconciling GAAP to Tax – GAAP Leading Tax – Tax Leading GAAP – Redemption Income – Breakage Income – Impact of the New Tax Law – And More.
Our Experience: We work with Closed Loop Programs – Open Loop Programs – Mixed Loop Programs – Non-Cash Instruments – Instruments with Cash Redemptions – Retail Instruments – GiftCo Instruments – Bank Instruments – And More.