Net Operating Loss Provision Passes, Signature Expected Today
The House passed bill H.R.3548 yesterday and we expect the President to sign it today.
The bill provides for immediate tax refunds on taxes paid over the immediate 5 years.
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Urge Congress to Pass NOL Tax Refund Provision Now
Senate Democrats are considering adding a four-year net operating loss carry-back provision to bills being considered this week. The tax provision would enable unprofitable companies to obtain immediate cash refunds on taxes they paid over the prior four years, instead of the usual two years.