Kane & Company, Certified Public Accountants And Advisors

On November 6th, the "Worker, Homeownership, and Business Assistance Act of 2009" was signed into law. This law includes an important new net operating loss provision which is the focus of this podcast. The new Act includes provisions that extend the 5-year carryback of net operating losses (also known as "NOLs") to apply to 2009 NOLs, and makes most businesses eligible for the 5-year carryback (not just the eligible small businesses which were previously privy).