David G. asked

⚖️  Law

Is an individual taxpayer who files a "corrected" federal tax return in 2006 for 2001 that is five years old by removing NOL passthroughs provided by a partnership, when the NOL was used to file amended carry back returns for 1996-2000 as the basis for an application for refunds in those prior years to the "corrected" return, have an obligation to file corrected amended returns and pay back the refunds?

September 9th, 2024

Benjamin S. answered

Yes, if the NOL passthroughs were removed because they were disallowed, the tax returns for the year...

September 9th, 2024

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