H.R.2452 - Net Operating Loss (NOL) Carryback Act111th Congress (2009-2010)
|Sponsor:||Rep. Neal, Richard E. [D-MA-2] (Introduced 05/15/2009)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 05/15/2009 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.2452 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in House (05/15/2009)
Net Operating Loss (NOL) Carryback Act - Amends the Internal Revenue Code to allow a five-year carryback of net operating losses, including the operating losses of life insurance companies, incurred in 2008 and 2009.
Denies such extended loss carryover period to: (1) taxpayers in whom the federal government acquires an equity interest under the Emergency Economic Stabilization Act of 2008; (2) the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac); and (3) members of certain affiliated groups.