NOL Carrybacks

Posted by admin in Featured Articles on February 15th, 2010 | 6 responses

CONGRESS ENACTS EXPANDED NOL CARRYBACKS

The Worker, Homeownership, and Business Assistance Act of 2009 (“Worker Act”) allows taxpayers to elect to carry back net operating losses (NOLs) incurred in tax years ending after December 31, 2007 and beginning before January 1, 2010 (or, for calendar year taxpayers, 2008 or 2009) for either 3, 4 or 5 years.   For other years, NOLs can generally be carried back only 2 years.  Marilyn discusses the requirements that must be met to qualify for the expanded carryback.   Read Full Article Here



6 Responses to “NOL Carrybacks”

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    March 10, 2011 at 12:09 am

    Congress enacts expanded nol carrybacks.. Keen :)

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