Tax effect of permanent timing differences

Reference no: EM13114201

When it comes to taxes, one should always be mindful of the fact that without the IRS, there would not be tax issues to worry about. So as a follow-up question: with permanent differences, how do they affect and impact the relationship between income tax expense on the income statement and income taxes payable for the amount owed to the IRS?

Reference no: EM13114201

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