Businesses get a break in unemployment bill
The unemployment insurance bill on the way to President Obama’s desk won’t just help the jobless and the homebuyer. It also includes a long-awaited break for businesses that will let them quickly turn their recent losses into cold cash.
The bill will let all businesses apply their losses from either 2008 or 2009 to any five years prior to 2008. By doing so, they can get a refund from the IRS on the taxes they paid for those five years.
