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TLR Productions reported income before taxes of $ 165, 000 for the years 2016, 2017, and 2018. In 2019 they experienced a loss of $
TLR Productions reported income before taxes of $ 165, 000 for the years 2016, 2017, and 2018. In 2019 they experienced a loss of $ 400 comma 000. TLR had a tax rate of 35% in 2016 and 2017, and a rate of 45% in 2018 and 2019. Assuming the company uses the carryback provisions for the net operating loss, what amount should be reported as Income Tax Refund Receivable in 2019?
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Income before taxes in 2016 2017 and 2018 165000 each year Loss in 2019 400000 Tax rate in 2016 and ...
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South-Western Federal Taxation 2020 Comprehensive
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
43rd Edition
357109147, 978-0357109144
