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Industry News
Net operating losses: CARES Act changes

The law known as the Tax Cuts and Jobs Act eliminated NOL carrybacks and permitted NOLs to be carried forward indefinitely. To help businesses hurt by the pandemic, the CARES Act changes those rules temporarily by permitting NOLs incurred in 2018, 2019, or 2020 to be carried back for five years and making other taxpayer-friendly changes.

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