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enacted tax rate

📊 Deferred Tax Liability Explained — Intermediate Accounting

Farhat Lectures. The # 1 CPA & Accounting Courses

Deferred tax liability represents a future obligation to pay taxes that arises due to temporary differences between financial accounting rules (GAAP) and tax laws enforced by the IRS. In this session, Professor Farhhat explains that while these liabilities are obligations for future payments, they m …