IRS Working on Consolidated Groups Guidance for NOL Carryback

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IRS and Treasury soon will issue guidance to address issues for consolidated groups raised by the recently enacted five-year net operating loss carryback, says Donald Bakke, an attorney-adviser in Treasury's Office of Tax Legislative Counsel. The government plans to act quickly, “recognizing the short shelf life of the legislation,” he says at a luncheon sponsored by BNA Tax & Accounting and hosted by Buchanan, Ingersoll, & Rooney P.C.


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