The U.S. IRS has posted new Frequently Asked Questions (FAQs) about Carrybacks of Net Operating Losses (NOLs) for Taxpayers who have had Section 965 Inclusions. The FAQs are a follow to the temporary procedures issued last week to claim quick refunds of the credit for prior year minimum tax liability of corporations and NOL deductions due to COVID-19 --- Frequently asked questions about carrybacks of NOLs for taxpayers who have had Section 965 inclusions The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) amended section 172(b)(1) to provide for a carryback of any net operating loss (NOL) arising in...