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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2020
INCOME TAXES |
Schedule of components of net loss before income taxes | The components of net loss before income taxes for each of the years ended December 31, 2020, 2019 and 2018 were as follows:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Net gain (loss) before income taxes: |  |  |  |  |  |  |  |  |
U.S. Domestic |  | $ | (37,758) |  | $ | (8,013) |  | $ | (13,075)
Foreign |  |  | 22,475 |  |  | 12,178 |  |  | 8,975
|  | $ | (15,283) |  | $ | 4,165 |  | $ | (4,100)
Schedule of components of provision for income taxes | The components of provision for income taxes for each of the years ended December 31, 2020, 2019 and 2018 were as follows:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Current tax provision: |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  | $ | — |  | $ | —
State |  |  | 367 |  |  | 147 |  |  | 200
Foreign |  |  | 8,660 |  |  | 5,065 |  |  | 3,305
Deferred tax provision: |  |  |  |  |  |  |  |  |
Federal |  |  | — |  |  | — |  |  | —
State |  |  | — |  |  | — |  |  | —
Foreign |  |  | (707) |  |  | (503) |  |  | (416)
|  | $ | 8,320 |  | $ | 4,709 |  | $ | 3,089
Schedule of reconciliation of the statutory U.S. federal income tax rate to the actual tax rate | A reconciliation of the statutory U.S. federal income tax rate of 21% in 2020, 2019 and 2018, respectively, to the actual tax rate is as follows:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Tax computed at the statutory U.S. federal income tax rate |  | $ | (3,209) |  | $ | 874 |  | $ | (903)
State and local taxes |  |  | 1,073 |  |  | 487 |  |  | 433
Valuation allowances |  |  | 8,564 |  |  | (324) |  |  | 1,296
Share-based compensation |  |  | 2,287 |  |  | 2,002 |  |  | 1,453
Differences in foreign tax rate |  |  | (822) |  |  | (45) |  |  | (12)
Uncertain tax positions |  |  | 684 |  |  | 1,494 |  |  | 771
Other |  |  | (257) |  |  | 221 |  |  | 51
|  | $ | 8,320 |  | $ | 4,709 |  | $ | 3,089
Schedule of components of the Company's long-term deferred tax assets |
|  | Year Ended December 31,
|  | 2020 |  | 2019
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 24,543 |  | $ | 4,922
Transaction loss provision |  |  | 272 |  |  | 1,360
Property, equipment & software |  |  | 31 |  |  | 32
Employee benefits |  |  | 3,653 |  |  | 2,931
Gross deferred tax assets |  |  | 28,499 |  |  | 9,245
Valuation allowance |  |  | (14,442) |  |  | (2,766)
Total deferred tax assets |  |  | 14,057 |  |  | 6,479
Deferred tax liabilities: |  |  |  |  |  |
Internal use software |  |  | 10,373 |  |  | 3,516
Total deferred tax liabilities |  |  | 10,373 |  |  | 3,516
Net deferred tax assets |  | $ | 3,684 |  | $ | 2,963
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits |
Balance at January 1, 2019 |  | $ | 2,898
Decreases for tax positions in prior years |  |  | 294
Increases for tax positions related to current year |  |  | 1,787
Balance at December 31, 2019 |  | $ | 4,391
Balance at January 1, 2020 |  | $ | 4,391
Decreases for tax positions in prior years |  |  | (1,000)
Increases for tax positions related to current year |  |  | 1,685
Balance at December 31, 2020 |  | $ | 5,076
Schedule of change in the Company's valuation allowance |
Balance at January 1, 2018 |  | $ | 1,564
Additions to valuation allowance |  |  | 820
Deductions to valuation allowance |  |  | —
Balance at December 31, 2018 |  | $ | 2,384
Balance at January 1, 2019 |  | $ | 2,384
Additions to valuation allowance |  |  | 382
Deductions to valuation allowance |  |  | —
Balance at December 31, 2019 |  | $ | 2,766
Balance at January 1, 2020 |  | $ | 2,766
Additions to valuation allowance |  |  | 11,676
Deductions to valuation allowance |  |  | —
Balance at December 31, 2020 |  | $ | 14,442

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