Business
Business, 21.11.2019 21:31, oomale

On its year 1 financial statements, seatax corporation, an accrual-method taxpayer, reported federal income tax expense of $570,000. on its year 1 tax return, it reported a tax liability of $650,000. during year 1, seatax made estimated tax payments of $700,000. what book–tax difference, if any, associated with its federal income tax expense should seatax have reported when computing its year 1 taxable income? is the difference favorable or unfavorable? is it temporary or permanent?

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