What is a provision for income tax and how do you calculate it?
ThomsonReuters
SEPTEMBER 2, 2021
Although the basic definition sounds simple, what’s not always simple is how to prepare for tax provision calculation in a way that is best for the business while being fast, accurate, and defendable. Estimating each year’s tax provision is not a menial task and can require a great deal of time and effort for corporate tax departments.
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