This paper reviews tax research in accounting, economics, and finance, focusing on areas where research overlaps. The authors summarize the current state of knowledge and identify important issues for future research. The paper discusses four main areas: 1) the informational role of income tax expense in financial accounting, 2) corporate tax avoidance, 3) corporate decision-making including investment, capital structure, and organizational form, and 4) taxes and asset pricing. The authors emphasize that tax research is multidisciplinary and that researchers from different fields often use different languages and perspectives. They argue that tax researchers in accounting should incorporate more theory and evidence from economics and finance. The paper also highlights the importance of understanding the trade-offs between tax and financial reporting incentives in real corporate decisions. The authors discuss the information content of book-tax differences, which can provide insights into current and future earnings. They note that book-tax differences can be influenced by earnings management and that changes in the valuation allowance can provide forward-looking information about future economic performance. The paper also examines the issue of book-tax conformity, which involves aligning book and tax income measures. The authors argue that while there are potential benefits to conformity, such as reduced compliance costs, there are also significant costs, including a loss of information in accounting earnings. The paper also discusses the effects of investor-level taxes on asset prices and the taxation of financial securities and financial institutions. The authors note that there is a lack of understanding about the taxation of financial securities and financial institutions, and that more research is needed in this area. They also highlight the importance of studying the effects of taxes on real corporate decisions, such as investment and capital structure. The authors conclude that there are many open areas for future research, including the taxation of financial securities and financial institutions, the effects of taxes on real corporate decisions, and the potential adoption of International Financial Reporting Standards (IFRS) in the U.S. They emphasize the importance of understanding the trade-offs between tax and financial reporting incentives in real corporate decisions and the need for further research in these areas.This paper reviews tax research in accounting, economics, and finance, focusing on areas where research overlaps. The authors summarize the current state of knowledge and identify important issues for future research. The paper discusses four main areas: 1) the informational role of income tax expense in financial accounting, 2) corporate tax avoidance, 3) corporate decision-making including investment, capital structure, and organizational form, and 4) taxes and asset pricing. The authors emphasize that tax research is multidisciplinary and that researchers from different fields often use different languages and perspectives. They argue that tax researchers in accounting should incorporate more theory and evidence from economics and finance. The paper also highlights the importance of understanding the trade-offs between tax and financial reporting incentives in real corporate decisions. The authors discuss the information content of book-tax differences, which can provide insights into current and future earnings. They note that book-tax differences can be influenced by earnings management and that changes in the valuation allowance can provide forward-looking information about future economic performance. The paper also examines the issue of book-tax conformity, which involves aligning book and tax income measures. The authors argue that while there are potential benefits to conformity, such as reduced compliance costs, there are also significant costs, including a loss of information in accounting earnings. The paper also discusses the effects of investor-level taxes on asset prices and the taxation of financial securities and financial institutions. The authors note that there is a lack of understanding about the taxation of financial securities and financial institutions, and that more research is needed in this area. They also highlight the importance of studying the effects of taxes on real corporate decisions, such as investment and capital structure. The authors conclude that there are many open areas for future research, including the taxation of financial securities and financial institutions, the effects of taxes on real corporate decisions, and the potential adoption of International Financial Reporting Standards (IFRS) in the U.S. They emphasize the importance of understanding the trade-offs between tax and financial reporting incentives in real corporate decisions and the need for further research in these areas.