H.R. 561 · 111th Congress
To amend the Internal Revenue Code of 1986 to allow a 5 year carryback of certain net operating losses, and for other purposes.
- Stage
- In committee
- Sponsor
- Betsy Markey
- Introduced
- 2009-01-15
- Latest action
- 2009-01-15 · Introduced in House
Summary
Amends the Internal Revenue Code to: (1) allow a five-year carryback of net operating losses for taxable years ending in 2008 or 2009; and (2) suspend the 90% alternative minimum tax limitation on carrybacks and carryovers of net operating losses in such years.