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Taxation & Estate Planning

: TaxProf Blog

IRS Eased NOL Rules for Citigroup in Exchange for Repayment of TARP Funds

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On Friday, the IRS eased NOL rules for companies that sold stock to the Government under the TARP program, resulting in a $38 billion tax break for Citigroup. On Monday, Citigroup agreed to repay the $20 billion of TARP funds it received from the Treasury Department. "The government is consciously...

Full post as published by TaxProf Blog on December 16, 2009 (boomark / email).

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