Tax Law

Recent Posts

PLR 201051019 – Parent Company’s Post-Bankruptcy NOLs
Posted on 1 Feb 2011 by Angela Kahng

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... Read More

Service Providing Needed Five-Year NOL Carryback Guidance
Posted on 20 Oct 2010 by Sean Craig

In response to the economic recession of 2008 and 2009, Congress passed numerous provisions that were designed to stimulate the economy. One such attempted measure of stimulus took the form of an extended net operating loss ("NOL") carryback... Read More

  • Blog Post: Service Providing Needed Five-Year NOL Carryback Guidance

    In response to the economic recession of 2008 and 2009, Congress passed numerous provisions that were designed to stimulate the economy. One such attempted measure of stimulus took the form of an extended net operating loss ("NOL") carryback period. The Worker, Homeownership, and Business...
  • Blog Post: 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...