Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.590 590 Income taxes on extraordinary items

This account shall include the estimated income tax consequences (debit or credit) assignable to the aggregate of items of both taxable income and deductions from taxable income which for accounting purposes are classified as unusual and infrequent, and are recorded in account 570, “Extraordinary Items (Net).” The tax effect of any timing differences caused by recognizing an item in the account provided for extraordinary items in different periods in determining accounting income and taxable income shall be included in account 591, “Provision for deferred taxes—extraordinary items.”