A cosmetics holding company is seeking $8.3 million in tax refunds for the 2015-2018 tax years based primarily on a net operating loss carryback provision in a Covid-era stimulus package.
In a complaint filed Monday in the US District Court for the Northern District of Illinois, pH Beauty Holdings III Inc. said the IRS hasn’t responded to the amended returns of WP-Paris Holding Corp., which merged with pH Beauty in 2018.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allowed companies to carry back net operating losses generated in taxable years beginning after Dec. 31, 2017, and ...
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