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 ...

For taxable years ending in 2001 and 2002, the Job Creation and Worker Assistance Act of 2002 extended the carryback period for net operating losses to five years. Before the Act, the carryback period ...

We’re programmed to hate losses. A loss tends to mean that you did something wrong, made a poor move or chose the ill-advised option. But in the tax world, a loss isn’t always a bad thing. Losses on ...

Businesses with a need for a cash infusion may be able to obtain one quickly as a result of a tax refund from recently expanded net operating loss (NOL) carryback allowances. These provisions address ...

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 ...

Under Sec. 6411, a taxpayer may file an application for a tentative carryback adjustment of the tax for a prior tax year that is affected by an NOL carryback, a business credit carryback, or a capital ...

As we move through the economics of the pandemic and the resulting massive and complex stimulus, one rather innocuous-sounding provision may be a huge financial benefit to businesses, both small and ...