The U.S. IRS has published a memorandum dated 7 February 2022 that contains interim guidance for examining tax returns reporting net operating losses. The guidance is issued to Small Business / Self-Employed Division (SB/SE) and Large Business & International (LB&I) examination operations. The purpose and background information for the guidance is as follows: --- Interim Guidance for Examining Tax Returns Reporting Net Operating Losses This memorandum issues guidance to SB/SE and LB&I Examination operations on ensuring awareness of taxpayer's actions with respect to carrybacks when examining tax returns reporting a net operating loss. Please distribute this information throughout your organization....