Section 382 of the Internal Revenue Code generally requires a corporation to limit the amount of its income in future years that can be offset by historic losses (i.e., net operating loss ...

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 ...

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 ...

A net operating loss is a tax concept. It occurs when you have more deductions than income for the year and individual taxpayers, estates and trusts can have a net operating loss as well as a ...

The impetus for introducing Section 382 was that a corporation’s NOL can, counterintuitively, actually be quite valuable on the market. The impetus for introducing Section 382 was that a corporation’s ...

The Pennsylvania Supreme Court held that the state’s flat $3 million cap on net operating loss (NOL) carryforwards violates the state constitution’s Uniformity Clause. 1 Unlike the lower court, ...

years with higher tax and less DPAD. Is there any way a farmer can elect to use the two year carryback available before the CARES Act? My research says no – five years is mandatory. Am I missing ...

Example Four: NOL Carryback—2019 Method Change Assume the same initial facts from Example Three, except the 2019 income for the taxpayer is $600,000. If the taxpayer would like to capture the benefit ...

Forbes contributors publish independent expert analyses and insights. Leading writer and speaker in the area of trader tax benefits. A summary of the Senate Finance Committee’s “Tax Cut & Jobs Act” is ...

Forbes contributors publish independent expert analyses and insights. Peter J Reilly is a Forbes contributor who covers taxes. It seems like the left and the right have entered into a competition as ...

It often surprises people that Amazon, arguably the most valuable public company in the world, likely paid no federal taxes last year. Some of that is the result of activities that fall under ...