Capital loss on sub's convertible debentures denied
- Planning opportunity for Pennsylvania corporations. Knoll, Elizabeth; Zemsky, Kenneth T. // CPA Journal;Jan1995, Vol. 65 Issue 1, p64
Reports on the state of Pennsylvania's adoption of limited net operating loss deduction for 1994. Tax implication of the policy; Carryover of loss schedule; Nature of net operating loss deductions.
- Invalid split NOL election left full carryback intact. // Practical Accountant;Jan97, Vol. 30 Issue 1, p18
Discusses a US Tax Court decision on a case of an invalid split net operating loss (NOL) election that left full carryback intact. Background of the case; Impermissibility of a split election to forego a carryback for the regular NOL only; Requirement for the unequivocal and unambiguous...
- Co-op losses are subject to Section 280A disallowance rules. // Practical Accountant;Aug96, Vol. 29 Issue 8, p18
Presents a court ruling claiming that losses arising from a cooperative partnership are not subject to tax deductions under Section 280A of the Internal Revenue Code. Background on the case involving a law school graduate who leased an apartment in a building which converted into a cooperative...
- Loss and deduction limitations for consolidated, controlled groups and short taxable years. // Practical Accountant;Aug96, Vol. 29 Issue 8, p22
Reports on the US Internal Revenue Service's (IRS) issuance of three sets of temporary regulations dealing with certain loss and deduction limitations for consolidated, controlled groups and short taxable years.
- Rules on NOL Carryforward Loosened Somewhat. Williams, Leonard W. // Outlook;Fall99, Vol. 67 Issue 3, p56
Deals with the rules on the carryback period for losses arising in tax years beginning August 5, 1997. Rule on casualty losses in California; Claim of educational credits; News on building component deductions.
- ACTION OF THE COUNCIL AT ITS MEETING IN NEW ORLEANS, LOUISIANA. // Tax Lawyer;Spring77, Vol. 30 Issue 3, p827
Presents decisions made by the Council of the American Bar Association Section of Taxation. Authorization of the chairman to form a special committee on carryover basis problems; Adoption of a continuing resolution authorizing the election of four vice-chairmen; Withdrawal of recommendations.
- CIVIL AND CRIMINAL TAX PENALTIES. // Tax Lawyer;Summer86, Vol. 39 Issue 4, p823
Reports the proposed regulation concerning civil and criminal tax penalties in the United States. Provision of waiver for the penalty of taxpayers; Discussion on carrybacks and carryovers in computing the amount of underpayment; Reference to the case of Mid-South Music Corp. v. Kolak.
- Net Operating Loss Carryforwards and Carrybacks (Part 1). // Journal of State Taxation;Spring2002, Vol. 20 Issue 4, p81
Lists several net operating loss carryforwards and carrybacks in the U.S. Importance of a separate state election; States that allow carrybacks and carryforwards.
- Corporation Tax�Losses II Transitional Relief. Carmichael, K.S. // Accountancy;Feb1968, Vol. 79 Issue 894, p112
Part II. Focuses on British companies' claims for tax relief for incurring trading losses. Provisions of the Finance Act of 1965; Relief on the excess of the charges on income paid by a company; Case where a company ceases to trade and another company carries on that trade.