Sec 461(l) Excess Business Loss Limitation is Back

After a three-year suspension under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Section 461(l) Excess Business Loss limitation is back for the 2021 tax year and will remain in effect for all subsequent taxable years beginning before January 1, 2027.

Grassi Tax Partner Shashi Singal was published in the February 2022 issue of the NYSSCPA’s Tax Stringer for her insights into how this provision affects noncorporate taxpayers’ tax savings potential and how the limitation should be calculated under current tax law.

Click here to read the full article on the NYSSCPA’s website.

Shashi Singal Shashi Singal is a Partner at Grassi and brings over 20 years of diversified tax and accounting experience to the firm. Shashi has expertise in strategic tax planning, projections and compliance. She provides guidance to clients on mergers, acquisitions, corporate restructuring and tax incentives and helps them achieve their full tax-savings potential. She has also advised multinational businesses on the tax implications of both... Read full bio

Categories: Tax