Technical Corrections Needed for Qualified Improvement Property and NOL Carrybacks

The Tax Cuts and Jobs Act contains a number of provisions that apparently do not accord with legislative intent. This is, in some cases, evidenced through discrepancies between the committee report and the language in the code. Today, we will highlight two apparent errors with significant impact to many taxpayers. The technical correction process is underway; however, it remains to be seen whether those changes will make it through Congress.

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