Assertion: net operating loss | /r/HasProperty | nol
Facets:
Source sentences:
text: Loss carryforward refers to an accounting technique that applies the current year's net operating loss (NOL) to future years' net income to reduce tax liability.
text: Prior to the implementation of the Tax Cuts and Jobs Act (TCJA) in 2018, the Internal Revenue Service (IRS) allowed businesses to carry net operating losses (NOL) forward 20 years to net against future profits or backwards two years for an immediate refund of previous taxes paid.
text: Under U.S. Federal income tax law, a net operating loss (NOL) occurs when certain tax-deductible expenses exceed taxable revenues for a taxable year.
text: A net operating loss (NOL) results from the situation in which a business or individual has more allowable tax deductions than it has taxable income.