CORPORATE TAX COMPLIANCE AND FINANCIAL REPORTING

Lillian F. Mills

65 citations0/0 files storedNational Tax Journal

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Corporate Taxation and Avoidance Auditing, Earnings Management, Governance Taxation and Compliance Studies

Abstract

The tax law provides varying opportunities for tax planning, and firms have competing incentives to consider in planning a tax reporting strategy, including financial reporting effects. I present preliminary results that Internal Revenue Service audit adjustments increase in the excess of book income over taxable income. This is evidence that firms incur additional costs for reporting higher book income than taxable income. I also investigate the relationship between compliance costs and taxes paid. Existing descriptive research emphasizes the social cost burden of such compliance costs. Preliminary results indicate that firms that spend more on tax research and planning report lower tax expense.

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References

1972Income tax evasion: a theoretical analysis 1994A Review of Financial Studies (1)1995Managing Financial Reports of Commercial Banks: The Influence of Taxes, Regulatory Capital, and Earnings 1995Bank Differences in the Coordination of Regulatory Capital, Earnings, and Taxes 1991An Econometric Analysis of Income Tax Evasion and Its Detection 1990Tax Planning, Regulatory Capital Planning, and Financial Reporting Strategy for Commercial Banks 1986The Tax Compliance Game: Toward an Interactive Theory of Law Enforcement 1992Why people pay taxes : tax compliance and enforcement

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