Accounting Today

New five-year NOL carryback requires revised 'elect-out' strategy

Thanks to the Job Creation and Worker Assistance Act of 2002, many clients and practitioners have many new strategies to consider. One that requires immediate attention is the treatment of net ...
Northcountrypublicradio.org

Is It Fair That Businesses Get To 'Carry Forward' Their Losses?

A developer such as Donald Trump can use a net operating loss "carryforward" to lower his taxes. That may sound weird, but the law has been in... Speculation that Republican presidential candidate ...
JD Supra

California Suspends Net Operating Loss Deductions and Limits Tax Credits through 2022 - These changes will affect estimated payments due in 2020, and taxpayers should plan ...

California A.B. 85, signed by Governor Newsom on June 29, 2020, suspends the use of .NOLs for tax years beginning in 2020, 2021, and 2022. The NOL suspension applies to both individuals and ...
JD Supra

Ready, fire, aim - IRS Chief Counsel Advisory misses the mark in NOL carryforward position that controvenes the TCJA

In CCA 201928014 (July 12, 2019), the IRS Office of Chief Counsel provides its view of the interplay between the net operating loss (NOL) carryover rules set forth in Internal Revenue Code (Code) § ...
KCUR 89.3 FM

Is It Fair That Businesses Get To 'Carry Forward' Their Losses?

Speculation that Republican presidential candidate Donald Trump went years — maybe decades — without paying federal income taxes has generated questions about "loopholes" available to real estate ...