Word: past
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...companies ring up tax credits in down years and use the credits to plump up the bottom line when business picks up. But what is turning the run-of-the-mill tax credit into a bonanza this recovery is the huge amount that corporate America has lost in the past two years. Also, stimulus spending has turned around the economy and corporate profits faster than normal for a particularly deep recession. The speedy turnaround in corporate profits, which are expected to soar 60% in the fourth quarter, is raising the value of the tax credits because they can be quickly...
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...
...extension would mean big bucks for corporate America. And unlike "carryforwards," which can only be realized if a company returns to profitability, carrybacks generate immediate cash, as long as the company has earned money in the past half-decade. The Joint Committee on Taxation recently estimated that the carryback extension would result in refunds of $33 billion to companies...
...back to previous overwrought spending? Not for a while. I think things are going to get better, but I think there has been a fundamental change in people's heads. We are not going to stop buying, but we may not shop to the degree we did in the past. I really think we are going to be more measured for the foreseeable future...
...regime blames Suu Kyi for having called for sanctions in the past. She has said she is open to rescinding the call if the regime agrees to engage in a genuine dialogue with her, her party and ethnic minorities. The junta plans to hold elections next year for the first time since 1990, when it lost to Suu Kyi's party, the National League for Democracy, by a landslide and then ignored the results. Suu Kyi has been barred from participating in the upcoming poll, and unless she is pardoned, she will still be under house arrest when it takes...