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Ambiguity May Let Nonprofits Sidestep 'Siloing' of Tax Losses, Law360

May 04, 2020

Morgan Lewis partner Alexander Reid spoke with Law360 about coronavirus (COVID-19) legislation that may allow tax-exempt organizations to offset income using losses under a so-called “silo.” In the article, he discussed the COVID-19 relief legislation and the Tax Cuts and Jobs Act’s implications for silo rules. "It was complicated to begin with, but now it's an infinite loop," Alex said. "You earn a loss in a silo, you carry it back to a tax year before the silo rules, and then you carry it forward to any silo in the future."

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