Income Taxes	3 Months Ended
Mar. 31, 2020
Income Taxes
Income Taxes	10. Income Taxes Federal income tax expense for the three months ended March 31, 2020 and 2019 has been computed using estimated effective tax rates. These rates are revised, if necessary, at the end of each successive interim period to reflect the current estimates of the annual effective tax rates. The effective rate in 2020 is higher than the statutory rate due to the tax benefit related to the impact of stock-based compensation which increased the tax benefit during three months ended March 31, 2020. The Company believes that the positions taken on its income tax returns for open tax years will be sustained upon examination by the Internal Revenue Service (“IRS”). Therefore, the Company has not recorded any liability for uncertain tax positions under ASC 740, Income Taxes. During the three months ended March 31, 2020, there were no material changes to the amount of the Company’s unrecognized tax benefits or to any assumptions regarding the amount of its ASC 740 liability. All tax years prior to 2016 are closed. There are no current examinations ongoing. In the Company’s opinion, adequate tax liabilities have been established for all open years. However, the amount of these tax liabilities could be revised in the near term if estimates of the Company’s ultimate liability are revised.

Income Taxes

3 Months Ended

Mar. 31, 2020

10. Income Taxes

Federal income tax expense for the three months ended March 31, 2020 and 2019 has been computed using estimated effective tax rates. These rates are revised, if necessary, at the end of each successive interim period to reflect the current estimates of the annual effective tax rates. The effective rate in 2020 is higher than the statutory rate due to the tax benefit related to the impact of stock-based compensation which increased the tax benefit during three months ended March 31, 2020.

The Company believes that the positions taken on its income tax returns for open tax years will be sustained upon examination by the Internal Revenue Service (“IRS”). Therefore, the Company has not recorded any liability for uncertain tax positions under ASC 740, Income Taxes.

During the three months ended March 31, 2020, there were no material changes to the amount of the Company’s unrecognized tax benefits or to any assumptions regarding the amount of its ASC 740 liability.

All tax years prior to 2016 are closed. There are no current examinations ongoing.

In the Company’s opinion, adequate tax liabilities have been established for all open years. However, the amount of these tax liabilities could be revised in the near term if estimates of the Company’s ultimate liability are revised.