HR 3587
116th Congress
House
Taxation
Business expenses
Income tax deductions
Tax administration and collection, taxpayers
To amend the Internal Revenue Code of 1986 to modify the effective date for the modification to net operating loss deductions in Public Law 115-97.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 27, 2019
Referred to the House Committee on Ways and Means.
Jun 27, 2019
Introduced in House
Plain-English summary
This bill amends the Tax Cuts and Jobs Act of 2017 (P.L. 115-97) to provide that the net operating carryforward and carryback modifications in that Act are effective for net operating losses arising in taxable years beginning after December 31, 2017 (instead of tax years ending after December 31, 2017).
The bill also allows an extension of the deadline for filing an application for a tentative carryback adjustment for net operating losses arising before January 1, 2018, and ending after December 31, 2017.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1