Definitions for "Income Taxes"
Keywords:  unearned, wages, salaries, tips, earned
Amount of income tax expense reported for the period.
Taxes levied on the earned (salaries, bonuses, wages, tips, commissions) and unearned (interest, rent, dividends) income of people. Income taxes are of two types - personal income taxes, which are levied on individuals and corporate income taxes, which are levied on businesses.
An expense based on reported earnings before income taxes. Deferred income taxes reflect the temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized for income tax purposes.