Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

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Income Taxes
6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 9 – INCOME TAXES

 

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was enacted by the United States Congress. As a result of the enactment of the CARES Act, net operating losses (NOL’s) can now be carried back for five years, among other provisions. As such, during the period ended June 30, 2020, the Company recorded $1,483 as an income tax receivable and $655 of deferred tax assets. The provisions of the CARES Act resulted the Company being able to recognize a tax benefit of $2,139 during the six month period ended June 30, 2020.