A permanent difference with respect to taxes is a difference that affects the tax records but not the accounting records, or vice versa.

Name: A permanent difference with respect to taxes is a difference that affects the tax records but not the accounting records, or vice versa.
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Question

Quizplus · Accepted Answer

A permanent difference arises when an item is included in either the tax records or the accounting records, but not both, leading to a difference that does not reverse over time.

A Permanent Difference with Respect to Taxes Is a Difference