California generally conforms to the federal provisions regarding net operating loss (“NOL”) deductions. However, California’s seemingly endless battle with budget deficits has resulted in periodic ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

If your business has a loss, whatever the reason, you’ll need to address it from a tax perspective. The Tax Cuts and Jobs Act (TCJA) puts a new limit on excess business losses for noncorporate ...

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 ...