H.R. 6391 — To amend the Internal Revenue Code of 1986 to allow for a 5-year carryback of operating losses of small businesses, and for other purposes.

Summary

This bill allows certain small businesses (fewer than 250 employees) a 5-year carryback of net operating losses incurred in 2020 due to COVID-19 (i.e., the coronavirus disease 2019).

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Legislative Actions

2020-03-25
Introduced in House
2020-03-25
Introduced in House
2020-03-25
Referred to the House Committee on Ways and Means.

To amend the Internal Revenue Code of 1986 to allow for a 5-year carryback of operating losses of small businesses, and for other purposes.

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