Section 382 Limits on NOL Usage Following an Ownership Change
Navigating Restrictions on Loss Carryforwards to Maximize Tax Benefits
Recording of a 110-minute CPE/CLE webinar with Q&A
This teleconference will provide accounting advisors with a review of the impactful terms of Sect. 382 and associated guidance. The panel will explore its application to frequently seen situations by corporations of all sizes struggling with limits on usage of NOLs following a change in ownership.
- Review of Sect. 382 and administrative guidance
- Material terms of section itself
- IRS Notice 2010-50 and owner shifts of loss corporations with more than one class of stock
- Notice 2009-38 on instruments acquired by Treasury under EESA and TARP
- Notice 2008-76 on acquisitions under Housing and Economic Recovery Act of 2008
- Notice 2008-100 on instruments acquired by Treasury under Emergency Economic Stabilization Act of 2008
- Notice 2008-83 on application of Sect. 382(h) to banks
- Notice 2003-65 on built-in gains and losses under Sect. 382(h)
- Various IRS letter rulings, e.g. 201106001 and 201039013.
- Commonly faced NOL situations for companies
- Equity rollforward and loss companies
- Value fluctuations
- NUBIGs and NUBILs
- Consolidated return issues for new and departing members
- Cash issuance exceptions
- Bankruptcy issues
The panel will address these and other challenges that often arise with Sect. 382:
- Calculating recognized built-in gains (NUBIGs) and built-in losses (NUBILs).
- Ownership testing given fluctuations in stock value.
- Potential equity rollforward problems for the buyer of a loss company.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Partner-In-Charge, Domestic Tax
He has 25 years of corporate tax experience, with particular expertise in NOL studies. His work also extends into tax... | Read More
He has 25 years of corporate tax experience, with particular expertise in NOL studies. His work also extends into tax compliance and planning, M&A, local/state/international taxation, and SEC issues relating to IPOs and privatizations.Close
His primary specialty is federal corporate tax law consulting, in areas ranging from structuring of taxable and exempt... | Read More
His primary specialty is federal corporate tax law consulting, in areas ranging from structuring of taxable and exempt transactions to deemed asset purchases. He also has considerable experience with corporate loss limitation studies under Sect. 382 and recently gave a Sect. 382 presentation to a TEI group.Close
He is attached to the Corporate Tax Group in the firm's Washington National Tax Practice, and specializes in... | Read More
He is attached to the Corporate Tax Group in the firm's Washington National Tax Practice, and specializes in Subchapter C matters. He previously worked as an attorney in the IRS Chief Counsel's Office, Corporate Division.Close