To amend the Internal Revenue Code of 1986 to allow certain taxpayers a 2-year carryback of net operating losses and to restore and make permanent the limitation on excess business losses of non-corporate taxpayers.
This bill makes permanent the limitation on excess business losses of noncorporate taxpayers and allows certain taxpayers a two-year carryback of net operating losses arising in 2020.
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Apr 21, 2020
Referred to the House Committee on Ways and Means.