Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v3.22.2
Income Taxes
6 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesThe Company recognized minimal income tax expense for the three and six months ended June 30, 2022 due to the significant valuation allowance against the Company’s deferred tax assets and the current year losses. The Company recognized an income tax benefit of $0.2 million for the three and six months ended June 30, 2021 due to the receipt of its refund claim related to the tax year 2017. The tax benefit recognized for the six months ended June 30, 2020 was a result of a tax law change signed into law as part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which allowed the Company to carry back certain losses for taxes paid in fiscal year 2017 and thus resulted in a refund claim. The 2021 income tax benefit was a result of the updated estimate of interest receivable and abatement of penalties on the refund claim, as the final refund payment was received from the Internal Revenue Service in the second quarter of 2021.