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Todd B. Reinstein Quoted in Tax Notes Today Article, 'Loss Carryback Revival Could Prompt M&A Renegotiations'

4/22/2020
Todd B. Reinstein Quoted in Tax Notes Today Article, 'Loss Carryback Revival Could Prompt M&A Renegotiations'

Todd B. Reinstein, a tax partner with Pepper Hamilton, was quoted in the April 22, 2020 Tax Notes Today article, "Loss Carryback Revival Could Prompt M&A Renegotiations."

Before the TCJA, refunds related to transaction-year NOL carrybacks were negotiated in structuring some mergers and acquisitions, and often “sellers would successfully argue that they were entitled to those pre-closing tax refunds from the carrybacks,” Todd Reinstein of Pepper Hamilton LLP said.

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Thus, beginning in 2018, sellers with transaction-year losses could only negotiate with the buyer for payment for the use of the NOLs carried forward, Reinstein said.

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