Statements required by the SEC are not the same as those sent to the IRS. For example, a company can use straight-line depreciation in their GAAP statements, b

Statements required by the SEC are not the same as those sent to the IRS. For example, a company can use straight-line depreciation in their GAAP statements, but use accelerated depreciation for tax purposes. The difference becomes a tax credit on the balance sheet. The IRS is much less likely to fall for shenanigans than investors.