The U.S. IRS has posted new Frequently Asked Questions (FAQs) about Carrybacks of Net Operating Losses (NOLs) for Taxpayers who have had Section 965 Inclusions. The FAQs are a follow to the temporary procedures issued last week to claim quick refunds of the credit for prior year minimum tax liability of corporations and NOL deductions due to COVID-19
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Frequently asked questions about carrybacks of NOLs for taxpayers who have had Section 965 inclusions
The Coronavirus Aid, Relief, and…