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NOL 2020 COVID-19

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COVID-19 related changed to Net Operating Losses (NOL)

CARES Act reverses the general ban on carrybacks of NOLs by requiring NOLs arising in 2018, 2019 or 2020 to first be carried back five years, unless the taxpayer elects to instead carry the NOLs forward.  It suspends the 80% taxable income limit for NOLs in 2018 to 2020.