Interpace Biosciences®, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

INCOME TAXES (Tables)

INCOME TAXES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Income Tax Disclosure [Abstract]

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

SCHEDULE OF EFFECTIVE INCOME TAX RATE


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2021			2020			2021			2020
	(unaudited)						(unaudited)
(Benefit) provision for income tax	$	(714	)	$	14		$	(684	)	$	43
Effective income tax rate		16.9	%		0.2	%		5.8	%		0.2	%

A reconciliation of the difference between the federal statutory tax rates and the Company’s effective tax rate from continuing operations is as follows:

	2020			2019
Federal statutory rate		21.0	%		21.0	%
State income tax rate, net of Federal tax benefit		4.0	%		3.0	%
Meals and entertainment		(0.1	)%		(0.2	)%
Valuation allowance		(25.0	)%		(23.8	)%
Naked credit		(0.1	)%		(0.1	)%
Discontinued operations allocation		0.0	%		0.2	%
Effective tax rate		(0.2	)%		0.1	%

Schedule of Components of Income Tax Expense (Benefit)

The benefit from income taxes on continuing operations for the years ended December 31, 2020 and 2019 is comprised of the following:

	2020		2019
Current:
Federal	$	-	$	(46	)
State		16		-
Total current		16		(46	)

Deferred:
Federal		23		11
State		14		7
Total deferred		37		18
Benefit from income taxes	$	53	$	(28	)

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant items comprising the Company’s deferred tax assets and (liabilities) as of December 31, 2020 and 2019 are as follows:

	2020			2019
Deferred tax assets:
Federal net operating loss carryforwards	$	17,015		$	11,664
State net operating loss carryforwards		2,953			1,834
Compensation		1,492			1,399
Allowances and reserves		436			457
Intangible assets		292			589
State taxes		900			848
Credit carryforward		229			229
163(j) interest		745			141
Leases		54			23
Deferred revenue		95			88
Valuation allowance		(23,684	)		(17,027	)
Gross deferred tax assets		527			245
Deferred tax liability:

Property and equipment		(582	)		(263	)
Deferred tax liability-net valuation allowance	$	(55	)	$	(18	)

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the change in uncertain tax benefit reserves for the two years ended December 31, 2020:

	Unrecognized
	Tax Benefits

Balance of unrecognized benefits as of January 1, 2019	$	877
Additions for tax positions of prior years		-
Balance as of January 1, 2020	$	877
Additions for tax positions of prior years		-
Balance as of December 31, 2020	$	877

Schedule of Tax Years Subject to Examination

Jurisdiction		Tax Years
Federal		2016 - 2020
State and Local		2015 - 2020