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Net Operating Losses: We are Back to Carrybacks  

CATEGORY: Taxation
COURSE ID: W625T, VERSION 1.00
  Webinar
2 CPE Credits
Level: Basic

The Tax Cuts and Jobs Act eliminated carrybacks for NOLs but the CARES Act has brought them back. Also, the TCJA restricted the loss to 80% of income in the year to which a loss is carried. But the CARES Act removes that restriction. While it has become confusing these changes have created some wonderful planning opportunities when considering the various options and elections which are available to taxpayers.

This webinar reviews the history of NOLs, the calculations and the procedures to implement a carryback for a refund or a carryover for deduction in future years.

This webinar also covers the Excess Business Loss rules as introduced by TCJA and modified by the CARES Act.

Instructor: Tony Johnson
Instructor assignments are fluid and subject to change.

NOTE: The voluntary IRS Annual Filing Season Program (AFSP) requires that CE Sponsors collect PTINs from IRS professionals who wish to receive IRS credit. IRS PTIN holders (including Enrolled Agents) should enter their IRS PTIN into Checkpoint Learning so that course completions can be reported to the IRS. You do not need to enter your PTIN for each course you take; you only need to add it once. If you have any questions on how to do this, please contact us 800-431-9025.

THIS WEBINAR IS NOT ELIGIBLE FOR CTEC CREDIT.

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