{"data":{"id":"us/47-cfr-32.4070","jurisdiction":"us","citation":"47 CFR 32.4070","heading":"Income taxes—accrued.","body":"(a) This account shall be credited or charged and the following accounts shall be charged or credited with the offsetting amount of current year income taxes (Federal, state and local) accrued during the period or adjustments to prior accruals: 7220 Operating Federal Income Taxes, 7230 Operating State and Local Income Taxes, 7400 Nonoperating Taxes, 7600 Extraordinary Items.\n(b) If significant, current year income taxes paid in advance shall be reclassified to Account 1280, Prepayments.","path":["Title 47—Telecommunication","CHAPTER I—FEDERAL COMMUNICATIONS COMMISSION","SUBCHAPTER B—COMMON CARRIER SERVICES","PART 32—UNIFORM SYSTEM OF ACCOUNTS FOR TELECOMMUNICATIONS COMPANIES","Subpart C—Instructions for Balance Sheet Accounts"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-47.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:26:28Z","sha256":"626cbc279db611ef6ab107e8df56cbdc5f87d105d1deea5bd19a00c23096d7fe","source_id":"us-cfr","stale":true,"prev":"us/47-cfr-32.4040","next":"us/47-cfr-32.4080"},"notice":"GroundRules: Original legal text. Not legal advice."}