March 6, 2021

Volume XI, Number 65

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March 05, 2021

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March 04, 2021

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Taxpayers Now Able to File NOL Refund Claims via Fax

Beginning April 17, 2020, and until further notice, the Internal Revenue Service will accept by fax refund claims based on a net operating loss carryback or those claiming a credit for a corporation’s prior-year minimum tax liability that are made on Form 1139, Corporation Application for Tentative Refund, or Form 1045, Application for Tentative Refund.

Previously, Forms 1139 and 1045 could be filed only by USPS or private delivery service. Due to COVID-19, the IRS has closed many of its processing centers, resulting in significant delays to the IRS processing forms previously filed by mail. It is anticipated that fax filing Form 1139 and Form 1045 will expedite the IRS’s processing and payment of these refund claims to provide much-needed cash flow to struggling businesses.

In addition, taxpayers that previously filed a Form 1139 or Form 1045 by USPS or private delivery service after the IRS closed most of its processing centers on March 27, 2020, can refile those same forms by fax to expedite the processing of those refund claims. However, the IRS notes that all Form 1139 and Form 1045 filings will be processed in the order received, including those previously filed by mail and received by the IRS prior to the IRS closing its processing centers.

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© 2020 Jones Walker LLPNational Law Review, Volume X, Number 107
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TRENDING LEGAL ANALYSIS

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About this Author

Trevor Wilson Tax Attorney Jones Walker
Partner

Trevor Wilson is a partner in the firm's Tax & Estates Practice Group. Mr. Wilson practices in the areas of federal income taxation, business formation, tax-exempt organizations, executive compensation, estate planning and the administration of successions.

Mr. Wilson's federal income tax practice focuses on advising clients on structuring their U.S. and international business activities to minimize federal income taxation, both in the ordinary course of business operations and upon a sale or merger of the business. In addition, he advises clients on...

225-248-2122
Walt Terry Associate Birmingham Tax Practice
Associate

Prior to joining Jones Walker, Walt drafted wills, trusts, and estate planning documents, and helped clients with probate and estate administration. He also assisted a range of business clients with formation, dissolution, mergers and acquisitions, and many other corporate transactions.

While in law school, Walt served as a site coordinator for the Volunteer Income Tax Assistance Program (VITA) and as a legal intern for the Mississippi Secretary of State’s Public Lands Division, where he drafted memoranda and conducted research. Prior to beginning his legal career, Walt worked in...

205-244-5239
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