INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Provision for/(benefit from) income taxes for continuing operations during the years endedSeptember 30, 2015 and 2014 follows:

	Years Ended
Income Tax Provision	September 30, 2015		September 30, 2014
(in thousands)
Current tax:
State	$	1	$	(114	)
Federal	—		(44		)
Deferred tax:
State	—		1,493
Federal	—		11,541
Provision for/(benefit from) income taxes	$	1	$	12,876

Schedule of Effective Income Tax Rate Reconciliation

Differences between the federal statutory rate and IEC’s effective tax rates for 2015 and 2014 are explained by the following reconciliation.

	Years Ended
Taxes as Percent of Pretax Income	September 30, 2015		September 30, 2014
Federal statutory rate	(34.0	)%	(34.0	)%
Increase in valuation allowance	28.0	%	620.3	%
Decrease in state deferred tax rate	5.0	%	8.3	%
State income taxes, net of federal benefit	—	%	(5.1	)%
Decrease/(increase) in tax credits	—	%	(3.6	)%
IRS audit and other federal refunds			(1.5	)%
Other	1	%	3	%
Income tax provision/(benefit) as percent of pretax income	—	%	587.4	%

Schedule of Deferred Tax Assets by Category

The following table displays deferred tax assets by category:

	Years Ended
(in thousands)	September 30, 2015			September 30, 2014
Deferred tax assets:
Net operating loss carryforward	$	12,174		$	5,925
Alternative minimum tax credit carryforward	943			949
Depreciation and fixed assets	1,133			1,099
Amortization and impairment of intangibles	—			3,178
New York State investment tax & other credits	1,186			1,186
Inventories	640			1,041
Other	764			679
Total before allowance	16,840			14,057
Valuation allowance	(16,840		)	(14,057		)
Deferred tax assets, net	—			—
Net deferred income taxes (current and deferred)	$	—		$	—