By Pat Southern. Last updated 2011-03-29. Of the many men who led Rome, only a handful can truly be said to have profoundly and fundamentally shaped the empire's structure and direction. This gallery introduces six of the most important Roman emperors.
Tax Liability. The amount of total tax due the IRS after any credits and before taking into account any advance payments (withholding, estimated payments, etc.) made by the taxpayer.
Income tax expense also equaled income taxes currently payable plus the change. in the Deferred Tax Liability account. For example, income tax expense for Year 1 equals income taxes cur-. rently payable of $30,400 plus the $1,600 increase in the Deferred Tax Liability account. Income tax expense. for Year 4 equals income taxes currently payable of $34,240 minus the $2,240 decrease in the Deferred Tax. Liability account.