Sep30

NRF testifies in support of special tax refunds

By Ana Van Engelen, Director, Communications | Published: September 30, 2009
This entry was posted in Public Policy

NRF’s Vice President and Tax Counsel Rachelle Bernstein testified before the House Small Business Committee this morning.

In her testimony, Bernstein said “If struggling retailers cannot finance inventories for the 2009 holiday season – their greatest opportunity for revenue for the year – they could go out of business. Extension of the NOL carryback period would provide an important source of capital to finance ongoing operations and retain employees. If NOL carryback is not enacted soon, tens of thousands of additional retail jobs will be  lost.”

Vice President and Tax Counsel Rachelle
> Bernstein said. “If struggling retailers cannot finance inventories
> for the 2009 holiday season – their greatest opportunity for revenue
> for the year – they could go out of business. Extension of the NOL
> carryback period would provide an important source of capital to
> finance ongoing operations and retain employees. If NOL carryback is
> not enacted soon, tens of thousands of additional retail jobs will be
> lost.”
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