The increase in magee's deferred income tax liability for this temporary difference is
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Deferred Tax Liabilities
Home » Accounting » Liabilities in Accounting » Deferred Tax Liabilities
Deferred Tax Liabilities
What are Deferred Tax Liabilities?
Deferred tax liabilities are created when income tax expense (income statement item) is greater than taxes payable (tax return) and the difference is expected to reverse in the future. DTL is the amounts of income taxes which are payable in future periods as a result of taxable temporary differences.
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