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DITL
(redirected from Deferred Income Tax Liability)

   Also found in: Financial 0.01 sec.
AcronymDefinition
DITLDay-In-The-Life (functional test under typical operating conditions)
DITLDaystrom Institute Technical Library (Star Trek fan site)
DITLDialog Item List (Mac resource)
DITLDictionnaire International de Termes Litteraires (French: International Dictionary of Literary Terms)
DITLDeferred Income Tax Liability


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As in the scenario above, a deferred income tax liability would result as amortization is deducted for income tax purposes.
Had the issue been expected to occur over more than a year, a long-term receivable would have been set up with a corresponding long-term deferred income tax liability account shown.
At the point of collection: Cash 4,000 Accounts receivable 4,000 At year end: Income tax expense 31,200 Deferred tax liability 1,200 Income taxes payable 31,200 Deferred income tax benefit 1,200 The debit to the deferred income tax liability results from the decrease in the temporary difference.
 
 
 
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