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INCOME TAXES
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9 Months Ended |
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Sep. 30, 2014
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| Income Tax Disclosure [Abstract] | |
| INCOME TAXES |
NOTE 15. INCOME TAXES We account for income taxes in accordance with FASB ASC Topic 740 Income Taxes. We recorded a decrease in our unrecognized tax benefits of $0.03 million and $0.04 million, respectively, as of September 30, 2013 and September 30, 2014. At December 31, 2013, we had $0.9 million in liabilities for unrecognized tax benefits. Included in this liability amount were $0.02 million accrued for the related interest, net of federal income tax benefits, and $0.02 million for the related penalty recorded in income tax expense on our Condensed Consolidated Statements of Operations. We expect to reduce the reserve balance by $0.4 million over the next twelve months due to statute expirations.
Valuation Allowance (Deferred Taxes) For financial reporting purposes, we recorded a valuation allowance of $2.9 million as of September 30, 2014 to offset a portion of the deferred tax assets related to the state net operating loss carryforwards. We regularly review our financial forecasts in an effort to determine our ability to utilize the net operating loss carryforwards for tax purposes. Accordingly, the valuation allowance is adjusted periodically based on our estimate of the benefit the company will receive from such carryforwards. |
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- Details
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- Definition
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://www.xbrl.org/2003/role/presentationRef
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