Most corporations are not having good years since 2007.
Obama claimed the glory for passing a regulation that corporations could carryback NOLs for THEIR CHOICE of any year within 5 years, instead of being stuck with the traditional two year carryback.
That expired in 2010, and now if we have a carryback we must choose between recovering lean taxes in lean years (if indeed, any at all).
If NOL exceeds gains in prior two years, can we resume the practice of applying NOL to the gains until they're exhausted, then rolling forward to the next fiscal year? We used to do this "back in the day" when we had a mandatory 3-yr rollback.
Some things they just need to leave alone...
Obama claimed the glory for passing a regulation that corporations could carryback NOLs for THEIR CHOICE of any year within 5 years, instead of being stuck with the traditional two year carryback.
That expired in 2010, and now if we have a carryback we must choose between recovering lean taxes in lean years (if indeed, any at all).
If NOL exceeds gains in prior two years, can we resume the practice of applying NOL to the gains until they're exhausted, then rolling forward to the next fiscal year? We used to do this "back in the day" when we had a mandatory 3-yr rollback.
Some things they just need to leave alone...