United States. Congress, American Recovery and Reinvestment Act of 2009…
“ If the amount of the original issue discount accruing before such 1st taxable year exceeds the income from the discharge of indebtedness with respect to the applicable debt instrument being reacquired, the deductions shall be disallowed in the order in which the original issue discount is accrued. ”
United States. Congress, American Recovery and Reinvestment Act of 2009…
“ Election.—Any election under this subparagraph shall be made in such manner as may be prescribed by the Secretary, and shall be made by the due date (including extension of time) for filing the taxpayer's return for the taxable year of the net operating loss. Any such election, once made, shall be irrevocable. Any election under this subparagraph may be made only with respect to 1 taxable year. ”
United States. Congress, American Recovery and Reinvestment Act of 2009…
“ Income from a small business.—For purposes of clause (ii) , income from a small business means, with respect to any individual, income from a trade or business the average number of employees of which was less than 500 employees for the calendar year ending with or within the preceding taxable year of the individual. ”
