S Corporations

This PodCast is about Net Operating Losses. The IRS has issued a revised ruling on the use of a net operating loss under the new rules Congress added in February. The new ruling, Revenue Ruling 2009-26, updates and liberalizes the guidance previously given in Revenue Ruling 2009-19 issued on March 16. The new guidance allows taxpayers to simply file a carryback for the appropriate number of years to make the election, but there are special due date rules you have to worry about. The materials are at http://www.edzollars.com/2009-05-04_NetOperatingLoss.pdf. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com