IRS advises May 21 that Form 461 is not available for 2020 due to legislative changes in the CARES Act. The CARES Act removed the limitation on business losses for 2018, 2019, and 2020. Therefore, the form is not needed for 2020 but will return in 2021, the IRS noted. Taxpayers who filed returns in 2018 or 2019 subject to the limitation can file amended returns. [IRS Form 461 (2020)]
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