A CARES Act Reference for Businesses

Modified Tax Provisions
by

x

To help combat personal financial challenges brought on by the ongoing health emergency, Congress passed, and President Trump signed, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which contains, among other support measures, a number business tax provisions such as eliminating the taxable income limit for certain net operating losses, changing the [section 163(j)] business interest limitation from 30 percent to 50 percent and letting businesses carryback net operation losses from this year and the preceding two years to the five prior tax years.

Tweet