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    Tax Accounting Facts

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    Which one is not correct in the context of tax accounting:

    Deferred tax liability might result when tax expense on an income statement is less than tax payment based on the tax code.

    Corporate income tax is an expense, not a distribution of the profits to the government.

    Non taxable expenses cause permanent differences between pretax accounting income and taxable income.

    Deferred tax assets might be resulted from Loss Carryback.

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    https://brainmass.com/business/accounting/tax-accounting-facts-500305

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    This solution explains which statement is not correct in the context of tax accounting.

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