Losing Money Is a Winning Pandemic Tax Strategy for Some Companies

WASHINGTON—There’s a simple rule for corporate tax planning in 2020: If you’re going to lose money, lose a lot of money. That’s because companies can now use losses incurred before and during the pandemic to offset up to five years of past profits. What makes this moment particularly attractive: Congress is letting companies get refunds…

WASHINGTON—There’s a simple rule for corporate tax planning in 2020: If you’re going to lose money, lose a lot of money.

That’s because companies can now use losses incurred before and during the pandemic to offset up to five years of past profits. What makes this moment particularly attractive: Congress is letting companies get refunds of taxes they paid at the 35% corporate rate that existed before 2018 rather than at today’s 21% rate.

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