H.R. 6391 · 116th Congress
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.
- Stage
- In committee
- Sponsor
- Brad Schneider
- Introduced
- 2020-03-25
- Latest action
- 2020-03-25 · Introduced in House
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).