Officials Clarify NOL Role in Reward Calculations for Whistleblowers

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The proposed regulations (REG-131151–10) on valuing rewards for whistleblowers is not intended to focus on specific elements, like net operating losses, of the collected proceeds, an IRS official says at a hearing. Prior to the hearing, several practitioners had written comments addressing concern over the exclusion of net operating losses from the definition of collected proceeds in the regulations.