A federal expansion of tax breaks for businesses operating at a loss set off a flurry of calls between lawyers and real estate clients at the end of last week.
The Worker, Homeownership and Business Assistance Act of 2009, signed by President Obama on Friday, expands a stimulus provision to let businesses apply 2008 and 2009 losses against taxes paid in the prior five years, rather than the previous two. The original provision was to expire at the end of the year and applied only to small businesses and 2008 losses.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]