The Small Business and Consumer Credit Act of 2026 amends the Internal Revenue Code to provide special rules for net operating losses of certain.

The Small Business and Consumer Credit Act of 2026 amends the Internal Revenue Code to provide special rules for net operating losses of certain financial institutions. Specifically, it allows specified financial institutions to carry back net operating losses to the taxable year preceding the loss and carry over losses to the 20 taxable years following the loss. The amendments apply to net operating losses arising in taxable years beginning after December 31, 2026.

The Small Business and Consumer Credit Act of 2026 amends the Internal Revenue Code to provide special rules for net operating losses of certain.

The Small Business and Consumer Credit Act of 2026 amends the Internal Revenue Code to provide special rules for net operating losses of certain financial institutions. Specifically, it allows specified financial institutions to carry back net operating losses to the taxable year preceding the loss and carry over losses to the 20 taxable years following the loss. The amendments apply to net operating losses arising in taxable years beginning after December 31, 2026.