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OTHER (INCOME)/EXPENSE
 12 Months Ended
Dec. 31, 2017
Other Income and Expenses [Abstract]  
OTHER (INCOME)/EXPENSE

4. OTHER (INCOME)/EXPENSE

 

Other (income) expense in the consolidated statements of operations during the year ended December 31, 2017 and 2016 are as follows:

 

    Year Ended December 31,  
    2017     2016  
Payroll tax interest and penalties accrued 2017 (abated 2016)   $ 42     $ (1,050 )
Other expenses and acquisition transactions      187        386  
Impairment of intangible assets     —        110  
Other expense (income)   $ 229     $ (554 )

 

During the fourth quarter of 2016, the Company received notice from the Internal Revenue Service (“IRS”) that the penalties for failure to timely file employer’s federal payroll tax returns and make the required payments thereon had been abated for Pioneer Power Solutions, Inc., Jefferson Electric Inc. and Pioneer Custom Electrical Products Corp. The abatement of these penalties amounts to approximately $1.1 million and has been recognized in the Company’s other expense in its consolidated statements of operations.