<p dir="ltr" style="line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;">&ldquo;Accounting tax&rdquo; is the name given to that field of accounting which is concerned with tax- related issues such as filling in tax returns, responding to tax obligations, and ensuring compliance with tax regulations. It connects the dots between financial accounting and tax law because reported financial information should match with requirements of tax reporting. It encompasses current and deferred tax-bookkeeping which assist businesses on tax planning. Knowledge of accounting taxes saves the businesses from penalties and enables better optimization of tax savings for the business through wise deductions and credits.