Modification of Net Operating Loss Provisions
Modification of Net Operating losses
- 2018, 2019, and 2020 net operating losses can be carried back five tax years
- Net operating losses can now fully offset taxable income instead of the previous 80% of taxable income limitation - retroactive to 2018
C-corporation filing date and due date for payment of tax has been extended to July 15
Watch on Youtube: https://youtu.be/osJSQePo_hk