Tax News & Views - November 6, 2009Vol. 10, No. 60 |
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Author
Tax Policy Group, Deloitte Tax LLP
- Temporary five-year NOL carryback becomes law – President Barack Obama on November 6 signed into law an unemployment insurance extension bill (H.R. 3548) with a provision that permits businesses with net operating losses (NOLs) in tax years 2008 or 2009 to carry back those losses for five years.
- House to consider health bill in Saturday session – The House of Representatives is poised to hold a rare Saturday vote November 7 on comprehensive health care reform legislation that is financed largely through a 5.4 percent surcharge on joint-filing taxpayers with modified adjusted gross income (AGI) above $1 million, and on other taxpayers with AGI above $500,000.
- Ways & Means subcommittee examines anti-tax haven proposal – Anti-tax haven legislation recently introduced in the House and Senate drew generally positive comments from government and private-sector witnesses testifying at a hearing of the House Ways and Means Select Revenue Measures Subcommittee.
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Tax News & Views - November 6, 2009
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