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Provision for Income Taxes
(redirected from Income Tax Provision)

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Provision for income taxes
An amount on the P & I statement that estimates a company's total income tax liability for the year.

Provision for Income Taxes
In a financial statement or personal budget, an estimate for one's total income tax liability for a given year. This is especially important when the government or an employer does not automatically deduct estimated tax payments from paychecks or other revenue. Generally speaking, one must set the provision for income taxes aside and pay it quarterly or annually.


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2 million relates to the finalization of the income tax provision for 2007 and $1.
AMEX:SIF) announced today that it has restated its income tax provision for its fiscal 2007 third quarter, which ended June 30, 2007.
For financial reporting purposes, the Company recorded a federal income tax provision of $1.
 
 
 
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