Fax Form 1139 and Form 1045 to Claim Quick Refunds of the Credit for Prior Year Minimum Tax Liability of Corporations and Net Operating Loss Deductions In response to the COVID-19 Pandemic and solely ...

A net operating loss is a tax concept. It occurs when you have more deductions than income for the year and individual taxpayers, estates and trusts can have a net operating loss as well as a ...

We’re programmed to hate losses. A loss tends to mean that you did something wrong, made a poor move or chose the ill-advised option. But in the tax world, a loss isn’t always a bad thing. Losses on ...

Businesses with a need for a cash infusion may be able to obtain one quickly as a result of a tax refund from recently expanded net operating loss (NOL) carryback allowances. These provisions address ...

Kevin DeHart, Ralph Levy Jr. As if business owners did not have enough to worry about in light of various deadlines of all types including when and whether to submit Paycheck Protection Program (“PPP” ...

The IRS is giving taxpayers until the end of the year before it stops its temporary procedures for faxing in Forms 1045 and 1139 for claiming tentative tax refunds, instead of mailing them, which it ...