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Obama budget and net operating losses: lets do something, who knows what

May 13, 2009

If you were hoping that the Obama budget would liberalize the net operating loss rules - say, by applying the temporary five-year loss carryback period to 2009, and allowing it to apply to all businesses - keep hope alive! But don't count on it. Here is the Obama NOL proposal, in full:

The Administration looks forward to working with the Congress to make a lengthened NOL carryback period available to more taxpayers.

That's pretty wishy-washy, even by politician standards.

Link: Complete Tax Update coverage of the Obama 2010 budget tax proposals.

Tags: NOL.Obama 2010 Tax Proposals.Obama Tax Policy.

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