The CARES Act eases the rules for claiming certain tax losses and liberalizes rules for NOL carryforwards. Here’s a look at the modifications.
The CARES Act made changes to excess business losses, including some changes that are retroactive and some that may create opportunities to file an amended return.
The Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed earlier in 2020, includes some retroactive tax relief for business taxpayers.
TCJA has placed some limitations on deducting business losses. Here’s a look at the changes in the rules and how they might affect you.