HR 8720 · 95th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 with respect to the net operating loss deduction allowable in the case of certain taxpayers.

Introduced 1977-08-03· Sponsored by Rep. Preyer, Richardson [D-NC-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1977-08-03)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow certain large businesses with severe long term losses a five-year carryback and five-year carryover period for net operating losses.…

Summarized by Claude AI · Non-partisan · For informational purposes only