Section 382 of the Internal Revenue Code generally requires a corporation to limit the amount of its income in future years that can be offset by historic losses (i.e., net operating loss ...

In CCA 201928014 (July 12, 2019), the IRS Office of Chief Counsel provides its view of the interplay between the net operating loss (NOL) carryover rules set forth in Internal Revenue Code (Code) § ...

California A.B. 85, signed by Governor Newsom on June 29, 2020, suspends the use of .NOLs for tax years beginning in 2020, 2021, and 2022. The NOL suspension applies to both individuals and ...