Tax Analyst Mock Interview
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Question 3 of 25
What is a deferred tax liability?
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Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.
A deferred tax liability is a tax that has been incurred, but is not yet paid. This is a common occurrence in tax accounting, and a liability must be reflected on a company's balance sheet to represent the future obligation.
Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.
"A deferred tax liability is an obligation to pay taxes in the future. It generally arises when a transaction or some other event occurs in the current period that will trigger taxes owed in a future period. When this occurs, a company must recognize the tax liability on their balance sheet as they would any other future obligation, such as accounts payable."
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