Tag: Taxes
2 More CARES Act Provisions Which May Help You During This Time
The recently passed CARES Act reinstates the ability for taxpayers to deduct current year losses (whether real or forced) against income from a prior tax year and receive an immediate tax refund. This concept is called a Net Operating Loss Carryback (NOLCB). Normally when taxes are paid...they are paid. But the NOLCB allows tax payments ...