Question: Why does book tax difference exist? Explain DTA and DTL. Why is valuation allowance for deferred tax assets a critical audit matter for American Airlines?

Why does book tax difference exist? Explain DTA and DTL. Why is valuation allowance for deferred tax assets a critical audit matter for American Airlines? For American Airlines, how does COVID-19 affect the valuation allowance for deferred tax assets?

https://www.sec.gov/ix?doc=/Archives/edgar/data/0000006201/000000620121000014/aal-20201231.htm

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