INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

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, 2019 and 2018, respectively, is as follows (amounts in thousands):



	2019					2018
	Total			%		Total			%
Computed Tax Benefit at Federal Statutory Rate of 21%	$	(5,101	)	21.0	%	$	(2,561	)	21.0	%

Permanent Differences:
State Taxes, Net of Federal Benefit	(708		)	2.9	%	(454		)	3.7	%
Change in Valuation Allowance	5,578			(22.9	)%	3,245			(26.6	)%
Rate change	68			(0.3	)%	—			—	%
Other true-up	17			(0.1	)%	(267		)	2.2	%
Other Permanent Differences	146			(0.6	)%	37			(0.3	)%
Provision (Benefit) for Income Taxes	$	—		—	%	$	—		—	%

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, 2019 and 2018, respectively, were as follows (in thousands):



Deferred Tax Assets	2019			2018
Loss carryforward	$	113,784		$	106,676
Allowance for credit loss	2,512			2,619
Impairment of real estate owned	3,022			2,665
Reserve against judgment	8,687			9,826
Capitalized real estate costs	338			339
Accrued expenses	822			521
Stock based compensation	536			477
Fixed assets and other	(2,827		)	(1,828		)
Total deferred tax assets before valuation allowance	126,874			121,295
Valuation allowance	(126,874		)	(121,295		)
Total deferred tax assets net of valuation allowance	$	—		$	—