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Accounting for income taxes- Book vs. tax basis differences

November 01, 2025
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Financial reporting Business tax Income taxes Audit

This Financial Reporting Insights is intended to be used as a resource in understanding how to identify temporary and permanent differences and net operating loss and tax credit carryforwards, which together are one of the many aspects of accounting for income taxes under FASB Accounting Standards Codification (ASC) 740, Income Taxes.

This publication does not address every aspect of accounting for income taxes and should therefore be read in conjunction with ASC 740, Income Taxes.

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