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Tax Cuts and Jobs Act › Business Losses › Coronavirus/COVID-19

Ropes & Gray LLP

2025 Tax Legislation Update: One Big Beautiful Bill Act Narrowly Passes Senate

Ropes & Gray LLP on

The “One Big Beautiful Bill Act” (the “BBB”) was passed by the U.S. House of Representatives on May 22, 2025 (such version, the “House Bill”) as part of the Republican Congress’s reconciliation package. The BBB generally...more

McGlinchey Stafford

What does the CARES Act mean for net operating losses and non-corporate business losses?

McGlinchey Stafford on

The CARES Act temporarily suspends retroactively changes made to the treatment of net operating losses by the 2017 Tax Cuts and Jobs Act (the “2017 Tax Act”). It also suspends retroactively the limitation on excess business...more

Burr & Forman

Congress Retroactively Removes Limits on Excess Business Losses in CARES Act, Affected Taxpayers Should Apply for 2018 and 2019...

Burr & Forman on

While the coronavirus has delayed tax season by a few months, Congress’s response may have created the first ever refund season in the recently passed and much discussed relief package known as the Coronavirus Aid, Relief,...more

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