A bill to amend the Internal Revenue Code of 1986 to clarify the application of the net operating loss deduction.
Net Operating Loss Clarification Act of 2019
This bill amends the Tax Cuts and Jobs Act of 2017 (P.L. 115-97) to provide that the net operating carryforward and carryback modifications in that Act are effective for net operating losses arising in taxable years beginning after December 31, 2017 (instead of tax years ending after December 31, 2017).
Introduced in Senate
Read twice and referred to the Committee on Finance.
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