Special New Tax Election to Carry Back Net Operating Losses for up to 5 Years
Posted November 11, 2009
The following Alert is provided by our Corporate Partner, Haynes and Boone, LLP.
On November 6, 2009, the Worker, Homeownership, and Business Assistance Act of 2009 (H.R. 3548) (the “Act”) was signed into law. The Act provides taxpayers (including corporate and non-corporate taxpayers) with a special election to carry back net operating loss (“NOL”) deductions for up to 5 years, rather than 2 years, as generally is permitted. To read the full alert, please visit the Publications section of our Web site.
