What is the accrued liability caregivers should report

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Reference no: EM13912234

In May 2015 Caregivers became involved in a tax dispute with the IRS. At Dec 2015 the tax attorney for Cargivers indicated an unfavorable outcome to the disput was probable. The additional taxes were estimated to be 770,000 but could be as high as 1,170,000. After the year end, but before the 2015 financial statements were issued, Caregivers accepted an IRS settelment offer for 900,000. what is the accrued liability Caregivers should report on it 12-31-15 balance sheet is?

Reference no: EM13912234

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