Certain banks would get new tax rules for managing past business losses.
The Small Business and Consumer Credit Act of 2026 would change tax rules for certain financial institutions. It would allow these banks to use past business losses to reduce future taxes or get refunds for past taxes, offering more flexibility than current law. These new rules would apply to losses starting in 2027.
Today, financial institutions follow general tax rules for managing net operating losses. After this bill, certain financial institutions would be able to choose special rules. For losses in 2027, they could carry them forward for 20 years. For losses in 2028, they could carry them back one year and forward 20 years. For losses in 2029 and beyond, they could carry them back two years and forward 20 years.
HR 9383 · 119th Congress · June 22, 2026 · AI Summary by gemini-2.5-flash · 10/10
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