Owsley, John
Carry your losses (further) forward
The article discusses the Tax Cuts and Jobs Act (TCJA), which would cut the top corporate income tax rate from 35% to 21% and provided a 20% deduction for qualified passthrough and sole proprietor-ship business income. Topics discussed include changes to the net operating loss (NOL) carryback/carry-forward rules, issues related to business deductions of taxpayer and new deduction for foreign derived intangible income and global intangible low-taxed income under Sec. 250.
Carry your losses (further) forward
The article discusses the Tax Cuts and Jobs Act (TCJA), which would cut the top corporate income tax rate from 35% to 21% and provided a 20% deduction for qualified passthrough and sole proprietor-ship business income. Topics discussed include changes to the net operating loss (NOL) carryback/carry-forward rules, issues related to business deductions of taxpayer and new deduction for foreign derived intangible income and global intangible low-taxed income under Sec. 250.