Business
Business, 18.03.2021 23:20, chrisspa13

HG, Inc., a calendar year corporation, reported the following operating income (loss) before income tax and the enacted tax rates for the last three years of operations: Income Tax rate Year 2 $100,000 40% Year 3 $(300,000) 30% Year 4 $400,000 30% There are no permanent or temporary differences between operating income (loss) for financial and income tax reporting purposes. When filing its Year 3 tax return, HG did not forgo to carryback the Year 3 loss. What amount should HG record in year 3 to account for the income tax refund receivable

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