Reconciling corporation book and tax net income, tax years 1995-2001: data release.
From: Statistics of Income. SOI Bulletin
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Date: 12/22/2004
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Author: Plesko, George A.; Shumofsky, Nina L.
Differences in accounting rules for financial (book) and tax reporting purposes can lead to differences in the amount of income reported to shareholders and tax authorities. The differences in book and taxable income are reconciled for tax reporting purposes in Schedule M-1 of Form 1120. The Spring 2002 Statistics of Income Bulletin contained a detailed explanation of Schedule M-1 reconciliation with data for Tax Years 1996-1998 [1]. This article provides an overview of an updated ...
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