Host Marriot: 10-year carryback not limited to a narrow class of liabilities

Article Abstract:

The author discusses Host Marriott Corp. v. United States, in which the US District Court for the District of Maryland held that, contrary to the argument of the IRS, federal tax deficiency interest and liabilities for workers compensation do qualify for specified liability loss ten-year carryback treatment under pre-1998 tax law.

Workers' compensation, Business losses

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Unbaking the consolidated cake: deciphering the impact of United Dominion

Article Abstract:

The author discusses the Supreme Court's 2001 decision in United Dominion Industries, in which the court applied the single-entity method in calculating a consolidated group's 10-year net operating loss carryback. The impact of the decision on application of the attribute reduction regime is examined.

Consolidated tax returns

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Impact of the 2001 Tax Act

Article Abstract:

The author discusses the features of the Economic Growth and Tax Relief Reconciliation Act of 2001 that will have an impact on an employer's 401(k) plan. Topics include new contribution limits, expanded benefits, increased portability, security and enforcement, and plan amendments.

Taxation, Employee benefits, Salary reduction savings plans, 401K plans

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