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Infographic titled 'Net Operating Loss (NOL) Pitfalls' showing 6 common mistakes: 1. Incorrect Calculation, 2. Wrong Carryback/Carryforward, 3. Improper Amended Returns, 4. Entity Type Confusion, 5. Related Party Issues, 6. Audit/Collection Problems. Each pitfall links to relevant IRS publications (e.g., Pub 536, Form 1040-X, Pub 542, Pub 544). Key takeaways emphasize maintaining detailed records, consulting a Net Operating Loss CPA, and understanding IRS rules for IRS tax resolution.

Understanding a Complex Net Operating Loss Case

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It’s common for family members to help when a parent or spouse faces IRS problems. But when an old net operating loss and related-party transactions are involved, “just filing an amended return” isn’t that simple. Here’s how Ed Parsons, CPA, unpacks these complex cases and builds a defensible path forward.

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Worried man in Miami holding IRS notice with the Miami skyline in the background

Miami, FL: Local CPA Guidance you can trust

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In Miami, IRS letters can arrive without warning — demanding thousands in back taxes or launching an unexpected audit. From international income mismatches to real estate sales and crypto reporting, local taxpayers face unique challenges. With IRS tax resolution services in Miami, FL and the guidance of a trusted CPA in Miami, FL, you can protect your income, passport, and peace of mind.

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