Deferred Income Tax (Expense and Liability)
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Financial Skills for Professionals$65.00 – $104.00
An expense account and corresponding liability intended to recognize the future tax consequences of income reported on the current income statement but not to be reported on the tax return until a future period. Now largely replaced by future income tax liability estimates.