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  • videocam On-Demand Webinar
  • signal_cellular_alt Intermediate
  • card_travel Tax Law
  • schedule 90 minutes

Net Operating Loss Planning Under Current Tax Law

Impact of OBBBA for Both Corporate and Noncorporate Taxpayers, Timing Issues and Other Considerations

$347.00

This course is $0 with these passes:

CLE
ALL
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About the Course

Introduction

This CLE/CPE course will guide tax counsel and advisers on key tax rules for net operating losses (NOLs) and their impact on tax planning for taxpayers. The panel will discuss the impact on the NOL carryback and carry-forward rules and limitations under current tax law, its effect on leveraging reduced income tax rates and the qualified business income deduction, technical issues for taxpayers with NOL carry-forwards, and planning methods to ensure tax savings.

Description

The reduced corporate tax rate and deduction for pass-through business income place limitations on the use of NOLs applicable to many small and mid-size businesses. Tax counsel and advisers must understand changes to NOL carryback and carry-forward rules, their interaction with current tax law provisions, and available planning methods to reduce the impact of new limitations.

NOLs are eligible for a five-year carryback with special extended periods for certain liability losses and farming activities and a carry-forward for up to 20 years to offset taxable income. For noncorporate taxpayers, Section 461(l) disallows a deduction for "excess business losses," which is the business deductions that exceed business income plus a threshold amount. The excess business losses are carried forward and treated as NOLs. The OBBBA makes the Section 461(l) limitation on excess business losses permanent for noncorporate taxpayers.

In calculating the NOL amount, taxpayers must be mindful of further limitations relating to other tax law provisions, the timing of income and deductions in assessing tax liability, and primary factors to consider for specific acquisitions.

Listen as our panel discusses the use of NOLs under current tax law, the application of Sections 381 and 382, and practical approaches to leverage the deduction and carryover rules.

Presented By

Katherine Erbeznik
Partner
Winston & Strawn LLP

Ms. Erbeznik focuses her practice on the tax aspects of a diverse range of business transactions. She advises clients on domestic and cross-border mergers and acquisitions, spin-offs, joint ventures, digital asset transactions, financings and transactions involving distressed companies, including both out of court restructurings and in bankruptcy. Ms. Erbeznik has extensive experience working with Latin American companies and fund sponsors. Her industry experience includes oil and gas, real estate, technology, financial services, digital assets, professional services, gaming, utilities and infrastructure. Additionally, Ms. Erbeznik also regularly advises private fund managers on the tax aspects of fund formation, both as an external advisor and through her experience as in-house counsel with a global asset manager.

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Tom Geraghty
Shareholder
Vedder

Mr. Geraghty advises clients on tax aspects of complex domestic and cross-border transactions, long-term tax planning, tax position management and compliance, ensuring tax-efficient results that support their economic and business objectives. He advises on capital generation, fund and company formation, ongoing operations and tax-efficient outcomes at exit. His experience spans joint ventures, mergers and acquisitions (including SPAC and up-C structures), securities offerings, equity investments, digital asset transactions (cryptocurrency, tokenized assets and smart contracts) and debt issuances.

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Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, March 10, 2026

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

I. NOL planning before and after the OBBBA

II. Application of Sections 381 and 382

III. Treatment of deferred interest under Section 163(j) and Section 382

IV. NOL limitations for noncorporate taxpayers

V. Income and deduction timing issues when assessing tax liabilities

VI. Planning techniques in applying deduction and carryover rules

The panel will review these and other challenging issues:

  • NOL rules and the impact on businesses
  • Understanding the application of Sections 381 and 382
  • Recognizing the treatment of deferred interest under Section 163(j)
  • Special considerations for noncorporate taxpayers
  • Timing issues for income and deductions when assessing future tax liability
  • Essential planning techniques in applying deduction and carryover rules