California Governor Gavin Newsom has signed legislation (i.e., S.B. 113) to, among other things, reinstate business tax credits and net operating loss (NOL) deductions originally limited by the ...
Since the enactment of the unrelated business income tax in 1950, section 512(b)(6)[1] and its predecessor allowed organizations subject to the unrelated business income tax (UBIT) to use the net ...
The Internal Revenue Service's continuing backlog is having an impact in many areas, including the processing of noncorporate applications for refund claims on net operating losses by pass-through ...
The Internal Revenue Service issued billions of dollars in tax refunds to companies claiming net operating losses for prior years after passage of the CARES Act, but did little to examine the merits ...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law by President Donald Trump on March 27. The legislation was enacted primarily to provide needed funds to individuals ...
Please note: This item is from our archives and was published in 2001. It is provided for historical reference. The content may be out of date and links may no longer function. TOUGH ECONOMIC TIMES ...
Net operating losses can be confusing. In this article I will explain what they are and the tax benefits that can derive from NOLs. There are different types of losses. For a loss to be a net ...
The IRS issued proposed (REG-125716-18) and temporary regulations (T.D. 9900) to provide guidance for consolidated groups on the treatment of net operating losses (NOLs) after recent statutory changes ...
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