Tax News & Views - October 30, 2009Vol. 10, No. 57 |
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Author
Tax Policy Group, Deloitte Tax LLP
- Senate to consider temporary five-year NOL carryback as part of unemployment insurance extension – The Senate is expected to take up an unemployment insurance extension bill (H.R. 3548) with an amendment by Finance Committee Chairman Max Baucus, D-Mont., and Majority Leader Harry Reid, D-Nev., that would provide for a five-year net operating loss (NOL) carryback for businesses with losses in tax years 2008 or 2009.
- Rangel, Baucus take aim at offshore tax evasion – House Ways and Means Committee Chairman Charles Rangel, D-N.Y., and Senate Finance Committee Chairman Max Baucus, D-Mont., introduced legislation aimed at preventing the use of offshore financial institutions, foreign trusts, and foreign corporations to evade U.S. tax obligations.
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Tax News & Views - October 30, 2009
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