INCOME TAXES

9 Months Ended

Sep. 30, 2021

INCOME TAXES [Abstract]

INCOME TAXES

8. INCOME TAXES

The provision for income taxes for the three months ended September 30, 2021 and 2020 was $1.6 million, or 29.6% of pretax income, and approximately $0.1 million, or 1.4% of pretax income, respectively. The provision for income taxes for the nine months ended September 30, 2021 and 2020 was $3.6 million, or 25.0% of pretax income, and approximately $0.2 million, or 5.6% of pretax loss, respectively. The increase for the nine months ended September 30, 2021 compared to the nine months ended September 30, 2020 was due to the reversal of a full valuation allowance at December 31, 2020, resulting in an effective tax rate of 25.0% for the nine months ended September 30, 2021.