INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the expected income tax expense (benefit) at the statutory federal income tax rate of 21% to the Company’s actual provision for income taxes and the effective tax rate for the years ended December 31, 2018 and 2017, respectively, is as follows (amounts in thousands):



	2018					2017
	Total			%		Continuing Operations			Discontinued Operations		Total			%
Computed Tax Benefit at Federal Statutory Rate of 21%	$	(2,561	)	21.0	%	$	(2,306	)	$	1,762	$	(544	)	35.0	%

Permanent Differences:
State Taxes, Net of Federal Benefit	(454		)	3.7	%	(171		)	200		29			(1.9	)%
Change in Valuation Allowance	3,245			(26.6	)%	(69,278		)	—		(69,278		)	4,457.2	%
Rate change	—			—	%	66,381			—		66,381			(4270.8	)%
State NOL expiration and rate change	—			—	%	2,576			—		2,576			(165.7	)%
Other true-up	(267		)	2.2	%	686			—		686			(44.1	)%
Other Permanent Differences	37			(0.3	)%	149			1		150			(9.7	)%
Provision (Benefit) for Income Taxes	$	—		—	%	$	(1,963	)	$	1,963	$	—		—	%

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities in the consolidated balance sheets for continuing operations as of December 31, 2018 and 2017, respectively, were as follows (in thousands):



Deferred Tax Assets	2018			2017
Loss carryforward	$	106,676		$	104,897
Allowance for credit loss	2,619			2,500
Impairment of real estate owned	2,665			2,983
Reserve against judgment	9,826			8,045
Capitalized real estate costs	339			347
Accrued expenses	521			638
Stock based compensation	477			412
Fixed assets and other	(1,828		)	(1,773		)
Total deferred tax assets before valuation allowance	121,295			118,049
Valuation allowance	(121,295		)	(118,049		)
Total deferred tax assets net of valuation allowance	$	—		$	—