Law360 (March 21, 2019, 4:57 PM EDT) -- The international provisions of the 2017 tax overhaul often limit the ability of taxpayers to carry forward losses or credits and smooth over their tax liabilities, leveling an unexpected tax hit on companies with uneven years of profitability.
International provisions in the 2017 Tax Cuts and Jobs Act carry significant caveats. (AP) Practitioners are warning companies in cyclical industries, such as insurance, to prepare for years when they can’t rely as much on net operating losses and foreign tax credits from prior years as they might have expected. The effect is especially pronounced with the Tax Cuts and Jobs Act’s provisions...
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