A Dream Come True! Carrying Back NOLs Further Than Two Years June, 2016 The following post is based materials I presented to the National Association of Bankruptcy Trustees at their Spring Meeting in Atlanta this past April. NOLs can generally be carried back two years for the recovery of income taxes paid.1 What many do not know is that the …
Caesars Examiner Analyzes Tax Refunds and Tax Attributes as Potential Fraudulent Transfers
The long awaited examiner report in the Caesars Entertainment Operating Company (“CEOC”) case was issued on March 15, 2016 (the “Report”).1 The Examiner found over $5 billion in potential recoveries due CEOC, and among them was $55 million in tax refunds and a potential future claim for the use of CEOC tax attributes by other members of the consolidated group.2 …