Word: losses
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Dates: during 2000-2009
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...record two types of earnings, one to the SEC and one to the IRS. It is perfectly legal for these numbers not to match, and often they don't. In 2008, retailer Macy's lost just under $5 billion, but only $33 million of that qualified as a tax loss eligible for credits against future profits. Other times a company books a much bigger tax benefit than its actual losses. Citigroup, for instance, had a bottom-line loss of nearly $28 billion in the numbers it reported to shareholders and the SEC. But at the same time, it recorded...
Congress is moving to make those tax losses even more valuable. Typically, when a company loses money, it can apply for a refund of the taxes it has paid on profits over the past two years. However, Congress is moving closer to extending the so-called tax loss carryback provision to five years, instead of two. Senate majority leader Harry Reid recently threw his support behind the extension of the tax refund, adding it to a bill that would extend unemployment benefits. On Nov. 2, the Senate voted to close debate on the bill, which means a final vote...
...goal in mind now for Nyamekye and the Crimson team is the Ancient Eight championship, a prize that is at their fingertips following Brown’s loss to the University of Pennsylvania over the weekend...
...Luckily for us, Brown’s loss last weekend puts us back in the race for the Ivies,” Nyamekye said. “I feel like we’re back on track to capture the title...
...Still, with the loss in Maine, the focus inevitably turns back to the courts, and for now that means back to California. That's where former U.S. Solicitor General Ted Olson and powerhouse attorney David Boies have brought a suit insisting that the Constitution forbids any law that prohibits gay marriage. Bonauto won't comment on the criticism that gay-rights groups heaped on Olson when he filed the case, saying it was premature given the heavily conservative bent of the federal judiciary. But she said to win across the country, gay-rights supporters must press the marriage case wherever...