IDNLearn.com makes it easy to find accurate answers to your questions. Our platform provides trustworthy answers to help you make informed decisions quickly and easily.
ingle Manufacturers, Inc. had earnings before taxes of 106,000$ for the year ended December 31, 2019. Inga also had the following income-tax-related circumstances during 2019
Inga's warranty cost estimate for 2019 was 80,000$. The company paid independent contractors 47,000$ to repair or replace its products.
Tax authorities notified Inga's management that 40,000$ payment made to an official in a foreign country in 2018 violates the FCPA.
In 2017, Inga made a charitable contribution of 24,000$ to a national charitable organization. The taxing authorities permitted only 1 ÷ 4 of that contrbution to be a tax deduction in fiscal-year 2017, but the remainder may be deducted in equal installinents over the following three years.
