Intra-period tax allocation is allocating the income taxes within the reporting period.
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Temporary differences can be either future deductible amounts or future taxable amounts.
Tax laws are meant to raise revenues for the public and help influence behaviors for the community (implications are meant to be positive).
Financial accounting standards are meant to provide and establish useful information to investors and creditors.
A taxable amount in the future will create a tax liability.
Future taxable amount means tax income will increase vs. accounting income, and a future deductible amount will mean tax income will decrease vs. accounting income.
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