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Income Taxes
3 Months Ended
Mar. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
Pre-tax income was $1,150 for the three months ended March 31, 2020, which consists entirely of income in the United States. and resulted in no provision for income tax expense during the period then ended since it projects a pre-tax loss for the year ending December 31, 2020. Pre-tax loss was $5,286 for the three months ended March 31, 2019, which consists entirely of loss in the United States and resulted in no provision for income tax expense during the period then ended. The effective tax rate is 0% in each of the three months ended March 31, 2020 and 2019 because the Company has generated tax losses and has provided a full valuation allowance against its deferred tax assets.
On March 27, 2020,  the President of the United States signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act, among other things, allows for a five-year carry back of federal net operating losses generated in 2018 through 2020 and removes the 80% taxable income limitation for net operating loss deductions for tax years ending before 2021. While the Company continues to analyze the relevant provisions of the CARES Act, the provisions of the legislation did not have an impact on the Company’s income taxes.