Tax News & Views - November 4, 2009Vol. 10, No. 58 |
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Author
Tax Policy Group, Deloitte Tax LLP
- Senate OKs temporary five-year NOL carryback – The Senate voted 98-0 on November 4 to approve an unemployment insurance extension bill (H.R. 3548) with a provision that would permit businesses with net operating losses (NOLs) in tax years 2008 or 2009 to carry back those losses for five years.
- Manager’s amendment to House health care bill would end ‘black liquor’ credit – A manager’s amendment to the House health care bill released November 4 makes no changes to the proposed surtax on high-income individuals – the bill’s single largest offset – but does add a new provision that would make “black liquor” ineligible for the cellulosic biofuel credit, and modifies a provision in the original bill related to the worldwide interest allocation election.
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Tax News & Views - November 4, 2009
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