On June 27, 2024, California enacted budget trailer legislation that contains significant tax changes (Senate Bill 167) and is likely to impact most California taxpayers. Among the provisions of the ...
The Internal Revenue Service's continuing backlog is having an impact in many areas, including the processing of noncorporate applications for refund claims on net operating losses by pass-through ...
The Internal Revenue Service issued billions of dollars in tax refunds to companies claiming net operating losses for prior years after passage of the CARES Act, but did little to examine the merits ...
Summary: Petitioner, Betty Amos, “an accomplished” CPA challenged a notice of deficiency relating to disallowed net operating loss (“NOL”) deductions claimed on her 2014 and 2015 tax returns and ...
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