In regards to corporate income tax which of the following h statements is incorrect

A) Federal income taxes are calculated on a corporate tax return.
B) Income Tax Expense is recorded when the federal income tax is paid.
C) When the corporation files its federal corporate tax return and makes payment, the account Income Tax Payable is credited.
D) The amount income taxes that the corporation owes but has not yet paid is classified as a current liability.

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When the corporation makes payment for federal income taxes the account Income Tax P... View the full answer