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 ...
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 ...
There has been a flurry of litigation in recent years involving taxpayer challenges to the constitutionality of Pennsylvania’s statutory cap on net loss carryover (“NOL”) deductions for tax years ...
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 It is provided for historical reference. The content may be out of date and links may no longer function.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 ...