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IRC 172
Free cpe webinars
Evolution of State NOLs and Tracking Efficiencies: TCJA to CARES Act

EVOLUTION OF STATE NOLs AND TRACKING EFFICIENCIES: TCJA TO CARES ACT

Cost Free
Presentation Length 1.0 hour

Recorded DateMay 28, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

The Federal Net Operating Loss (NOL) deduction, IRC Sec. 172, has been significantly changed by both the TCJA and CARES Act.  This webinar will cover the impact of these legislative changes on State NOLs under (1) existing conformity, (2) subsequent state legislative or administrative responses, and (3) state CARES Act anticipated responses. The latest tax technical content for both compliance and financial reporting is explored and then demonstrated through a fully integrated corporate multi-state example using SNOL™️ reports.
 
The course content will provide state groupings by common state NOL statute characteristics and insight on unique state pitfalls to avoid.
 
Learning Objectives:
 
This webinar is designed to help prepare C-Corp state and local tax professionals for the tax compliance season and quarterly financial reporting.  As a result of active participation, program attendees will be able to:


  • Discuss the impacts of TCJA and CARES Act on Federal Section 172

  • Determine potential state loss carryback and carryforward for their organization and clients

  • Understand the financial reporting requirements for State NOLs

  • Awareness of a technology solution for compliance and financial reporting for state NOLs

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Globaltax

Andrew McComas, CPA, MST is a  Federal & State tax practitioner with 25+ years’ experience in industry and public practice with Fortune 1000 Multi-national/state corporations and partnerships.

About Our Presenter

Globaltax
Global Tax Associates Group, LLC – Our federal and state consulting practice provides a rich array of tax expertise thru the experience of its professionals derived from law firm, accounting, governmental and in-house experience. Our ability to provide comprehensive multistate corporate income tax advice in connection with both routine and complex issues is enhanced by our knowledge and experience with federal income tax principles, state principles, audit controversy strategies and technology solutions.