Thursday, June 11, 2020
9:00 AM to 10:00 AM

Topic: NOL Carryback Opportunities Available with the CARES Act
Speaker: Jane Ryder, EA, CPA
1 Federal Update Hour
IRS: 18QC1-U-01341-20-O
CTEC: 1000-CE-4733

Course Description:
This course covers the new 5-year NOL carryback procedures made available with the Cares Act. Rev Proc 2020-24 and Rev Proc 2020-26 detail the provisions for applying for refunds under the new NOL carryback options which temporarily modify the NOL carryback limitations imposed by the TCJA. Learn about the extended deadlines for electing NOL carryback, which tax years the new rules apply to, which forms to file, specific notations used to indicate NOL requests using the new rules, which elections are irrevocable, and more. Sample forms and examples will be provided.

Knowledge Level: Update

Jane Ryder, EA, CPA

Jane Ryder, EA, CPA has been providing tax preparation, accounting services, and tax collection resolution services since 1980. She runs her San Diego CPA firm and writes and speaks on many income tax, business compliance and accounting topics. Jane has a business centric practice, preparing and consulting on tax, accounting, and compliance matters for Corporations, S-corporations, LLC’s, Partnerships, and Trusts. She also specializes in IRS and state agencies collection problems, payment plans, audit representation, audit appeals, offers in compromise, and other compliance related issues. She earned a BS in Business Administration (Accounting) from SDSU and is currently licensed with the California State Board of Accountancy and admitted to practice before the the Internal Revenue Service as an Enrolled Agent.