March 30, 2021
The Mann Report published an article by Tax Director Daniel Smith about CARES Act provisions regarding net operating loss carrybacks.
The Mann Report
By Daniel Smith, Director, Tax & Business Services
Excerpt:
The CARES Act allows a taxpayer to carryback 100% of its 2018, 2019 and 2020 NOLs for up to five years and claim a refund based on the NOL carryback for any taxes paid in those years. As a result, the new NOL rules allow tax planning opportunities that did not exist before the pandemic.
Click here to read a PDF version of the article >>
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