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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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I understand there was some legislation in 2007 regarding Net

Resolved Question:

I understand there was some legislation in 2007 regarding Net Operating Loss Carryback. What is this legislation?
Submitted: 8 years ago.
Category: Tax
Expert:  Ed Johnson replied 8 years ago.



Do you mean state or federal legislation?


What in particular are you looking for?

Customer: replied 8 years ago.
Federal legislation. I am a land developer and I have massive losses this year and understand there is new legislation that will assist me in getting a tax rerund quicker.
Expert:  Ed Johnson replied 8 years ago.

Dear candy,


I apologize for taking so long to get back to you. I had a computer crash because of a virus.


I do not understand what legislation that would be. I know the IRS has intenral regulatiosn that have changed to process business taxes faster.


But no new legislation that I am aware of that is related specifically to XXXXX Carryback.


The most recent updates regarding Net Operating Loss Carryback are contained in this publication:


If you are a corporation, you would use this publication:


this is a list of all changes for 2007 and 2008 to date.


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