Hot Topics in Extended NOL Carryback

This one-hour Webcast provides an update on current technical developments related to the recently enacted extended net operating losses (NOL) carryback provision. The provision allows most taxpayers an extended carryback period from two years to up to five years for NOLs incurred in taxable years beginning or ending in 2008 or 2009.

This legislation presents a significant opportunity for taxpayers, who can use recent NOLs to offset taxable income for up to five preceding tax years and obtain tax refunds.

The discussion covers recently issued Internal Revenue Service FAQs, Alternative Minimum Tax nuances, corporate equity reduction transactions, and practice experiences and observations.