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Summary: Moody's Investors Service has removed the rating history for the 2.06% Mortgage-Linked Amortizing Global Debt Securities
(5) The taxpayer is not required to amortize premium on taxable bonds just because he has tax-exempt bonds that he is amortizing.
263 and 446 (TD 9107) provide new tax accounting rules for amortizing debt issuance costs.
(See the box on page 75 for key provisions.) Amortizing an asset gradually reduces its value through periodic write-downs and requires companies to recognize an expense.
If a taxpayer has been amortizing points and then refinances, the general rule has been that un-amortized points from the first loan are deducted in full and the points on the new loan are amortized.
The exposure draft also says (paragraph 83), "the Board concluded in the 1999 exposure draft that amortizing goodwill was a more appropriate method of accounting for goodwill than not amortizing goodwill and testing it for impairment or writing it off immediately.
Is there a robust and operational way to review goodwill for impairment to place more reliance on an approach that included not amortizing some or all goodwill?
The amount of the deduction is determined by amortizing the adjusted basis of the intangible ratably over a 15-year period.
While amortizing goodwill for tax purposes does create an even and certain tax deduction during the length of amortization, it creates a deferred tax liability once those 15 years are up.