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Income Taxes

6 Months Ended

Jun. 30, 2020

13.	Income Taxes

We recorded an income tax benefit of $0.6 million and $1.4 million for the three and six months ended June 30, 2020, respectively, compared to income tax expense of $0.2 million and $0.3 million for the same periods in 2019. We recorded an income tax benefit for the six months ended June 30, 2020 primarily due to the tax benefit of $1.7 million related to the Coronavirus, Aid, Relief and Economic Security Act, or CARES Act, signed into law on March 27, 2020, which is partially offset by income tax expense related to taxable income earned in certain foreign jurisdictions.

Under the Tax Cut and Jobs Act of 2017, or the Tax Act, federal net operating losses incurred in 2018 and in future years could be carried forward indefinitely, but the deductibility of such federal net operating losses was limited. The CARES Act temporarily removes the limitation on net operating loss deductions, resulting in the $1.7 million tax benefit recorded for the six months ended June 30, 2020. The limitation on the deductibility of federal net operating losses is reinstated for tax years beginning after 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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