LexisNexis® Legal Newsroom
PLR 201051019 – Parent Company’s Post-Bankruptcy NOLs

The IRS released a private letter ruling on December 23, 2010 providing guidance on a parent company's ability to use its NOLs after a bankruptcy proceeding. In PLR 201051019 (Sept. 14, 2010), Parent and a disregarded entity owned by Subsidiary Y were the only participants in a bankruptcy proceeding...

Income Tax Reform Tensions Vex Ohio Cities, Businesses

All compliant taxpayers know that wrestling with tax liabilities involves far more than how to pay for them. Ongoing challenges are manifold – Taxpayers must all plan to control and minimize taxes; divine tax amounts payable; and pay timely. Problems and compliance efforts multiply proportionally...