The company's ability to utilize NOL
carryforwards would be substantially limited if an ownership change as defined under Section 382 were to occur.
13(5) and (6) provide two examples that may prompt a revenue agent to identify a problem in an NOL
deduction under examination.
13(4) explicitly refutes this inaccurate assumption by stating "copies of tax returns are not proof" of an NOL
The transaction would enable NOL
to grow as part of a larger entity with the resources of the world's third-largest container shipping line," NOL
Chief Executive Ng Yat Chung said.
1,2014, the carryback amount may not exceed 50 percent of the NOL
Unless these conditions improve, NOL
will post a full-year loss," the company said.
An individual who has a negative taxable income needs to go through the following three-step process to conform with the NOL
is easy to report--it gets entered on line 21 of Form 1040 (Other Income) as a negative number.
The recently enacted recovery package allows taxpayers to elect the three-, four-, or five-year carryback to offset the loss against income earned in up to five previous years, whereas an NOL
typically can only be carried back for two years.
If your business losses exceed your personal income, you have generated a personal NOL
and may be able to carry the excess loss back or forward to other tax years on your personal return.
3) We conduct tests to examine how well Compustat NOL
data identifies firms with U.
This election must be made by the deadline for your business's income tax return for the year in which the NOL