|3 Months Ended|
Mar. 31, 2020
|Income Tax Disclosure [Abstract]|
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. For the three months ended March 31, 2020, this resulted in the Company recognizing $1,483 of income tax receivable, $655 of deferred tax assets, and a tax benefit of $2,138.
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef