The provision for (benefit of) income taxes consists of the following components:

	Fiscal Year Ended March 31,
	2020			2019			2018
Current:
Federal taxes	$	408		$	1,159		$	(2,788	)
State taxes		858			(238	)		(1,073	)
Foreign taxes		874			744			678
Total current taxes		2,140			1,665			(3,183	)
Deferred:
Federal taxes	$	(3,578	)	$	3,752		$	2,949
State taxes		(1,682	)		(428	)		(2,510	)
Foreign taxes		(119	)		(195	)		(86	)
Total deferred taxes		(5,379	)		3,129			353
Provision for (benefit of) income taxes	$	(3,239	)	$	4,794		$	(2,830	)

The provision for (benefit of) income taxes differs from the amount computed at the federal statutory rate as follows:

	Fiscal Year Ended March 31,
	2020			2019			2018
Tax expense at United States federal statutory rate ⁽¹⁾	$	895		$	6,150		$	(129	)
Items affecting federal income tax rate:
Research and development tax credits		(4,705	)		(4,647	)		(4,179	)
Return to provision true-ups		(1,868	)		(149	)		(2,229	)
Impact of foreign operations		(683	)		(304	)		(365	)
Impact of audit settlements		(61	)		967			428
Impact of valuation allowance		(49	)		(33	)		(101	)
Qualified production activities income deduction		—			—			(4	)
Foreign transition tax - Tax Reform		—			210			1,381
Revaluation of deferred tax balances - Tax Reform		—			231			2,328
Impact of amended returns		67			391			196
Compensation		125			(169	)		620
Impact of deferred adjustments		159			132			415
Acquisition expenses		229			(2	)		304
State income taxes		687			1,502			1,291
Non-deductible expenses		903			140			98
Impact of uncertain tax positions		1,062			375			(2,884	)
Provision for (benefit of) income taxes	$	(3,239	)	$	4,794		$	(2,830	)

The net deferred tax assets and liabilities in the accompanying consolidated balance sheets consist of the following:

	March 31, 2020			March 31, 2019
Deferred tax assets:
Compensation and benefits	$	11,966		$	10,707
Operating lease liabilities		11,430			—
Deferred revenue		10,546			7,171
Research and development credit		9,643			10,089
Net operating losses		8,812			5,320
Allowance for doubtful accounts		1,819			2,156
Foreign deferred taxes		1,574			1,455
Deferred rent		—			3,143
Other		—			690
Total deferred tax assets		55,790			40,731
Deferred tax liabilities:
Intangibles assets	$	(12,477	)	$	(15,806	)
Capitalized software		(9,931	)		(4,900	)
Prepaid expense		(7,842	)		(6,407	)
Operating right-of-use assets		(6,667	)		—
Accelerated depreciation		(1,405	)		(1,606	)
Accounts receivable		(1,251	)		(2,255	)
Other		(145	)		—
Total deferred tax liabilities		(39,718	)		(30,974	)
Valuation allowance		(5,452	)		(3,563	)
Deferred tax assets, net	$	10,620		$	6,194

The deferred tax assets and liabilities have been shown net in the accompanying consolidated balance sheets as noncurrent.

As of March 31, 2020 and 2019, we had federal net operating loss (“NOL”) carryforwards of $24,216 and $17,419, respectively. The federal NOL carryforwards were inherited in connection with our acquisitions of HealthFusion in January 2016, Gennius in March 2015, Entrada in April 2017, EagleDream in August 2017, and Medfusion in December 2019. The NOL carryforwards expire in various amounts starting in fiscal 2030 for both federal and state tax purposes. As of March 31, 2020, we had state NOL carryforwards of approximately $3,727 (tax effected), related to the HealthFusion, Entrada, EagleDream, and Medfusion acquisitions state NOL tax attribute. The utilization of the federal NOL carryforwards is subject to limitations under the rules regarding changes in stock ownership as determined by the Internal Revenue Code.

As of March 31, 2020 and 2019, the research and development tax credit carryforward available to offset future federal and state taxes was $12,399 and $11,072, respectively. The federal credits include credits inherited in connection with our acquisition of Medfusion in December 2019. The credits expire in various amounts starting in fiscal 2021.

We expect to receive the full benefit of the deferred tax assets recorded with the exception of certain state credits and NOL carryforwards for which we have recorded a valuation allowance.

Notwithstanding the United States taxation of the deemed repatriated foreign earnings as a result of the one-time Transition Tax, we intend to continue investing these earnings indefinitely outside of the United States. If we determine that all or a portion of our foreign earnings are no longer to be indefinitely reinvested, we may be subject to additional foreign withholding taxes and state income taxes in the United States beyond the Tax Reform’s one-time Transition Tax. In the event that we distribute the foreign earnings to the United States, we will incur and record foreign withholding related taxes and U.S. state taxes of approximately $2,600 and $500, respectively.

The Taxation Laws (Amendment) Act, 2019 was enacted on December 12, 2019 to lower corporate tax rates in India. We opted not to elect for the reduced tax rate for various factors for the year ended March 31, 2020.

A reconciliation of the beginning and ending amount of unrecognized tax benefits, which is recorded within other noncurrent liabilities in our consolidated balance sheet, is as follows:

During the year ended March 31, 2020, we recorded additional net liabilities of $1,298 related to various federal and state tax planning benefits recorded in the current year for prior year tax positions. If recognized, the total amount of unrecognized tax benefit that would decrease the income tax provision is $4,192.

Our practice is to recognize interest related to income tax matters as interest expense in the consolidated statements of net income and comprehensive income. We had approximately $174 and $209 of accrued interest related to income tax matters as of March 31, 2020 and 2019, respectively. We recognized interest income of $35 for the year ended March 31, 2020 and interest expense of $19, and $86 in the years ended March 31, 2019 and 2018, respectively, related to income tax matters in the consolidated statements of net income and comprehensive income. No penalties related to income tax matters were accrued or recognized in our consolidated financial statements for all periods presented.

We are no longer subject to United States federal income tax examinations for tax years before fiscal year ended 2016. With a few exceptions, we are no longer subject to state or local income tax examinations for tax years before fiscal year ended 2015. During fiscal year ended March 31, 2020, our income tax examination by the Internal Revenue Service was formally completed for the tax years March 31, 2014 through March 31, 2016. We do not anticipate that total unrecognized tax benefits will significantly change due to the settlement of audits or the expiration of statute of limitations within the next twelve months.

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), signed into law on March 27, 2020, has resulted in significant changes to the U.S. federal corporate tax law. Additionally, several state and foreign jurisdictions have enacted additional legislation and or comply with federal changes. As the enactment dates of this law was prior to the end of our reporting period, we have considered the applicable tax law changes in our current and deferred income tax expense as of March 31, 2020. We will continue analyzing the applications of the CARES Act and include the material impact to future income tax provisions, if applicable.