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Job Creation And Worker Assistance Act Of 2002 (JCWAA)

Categories: Economics,

Legislation passed in 2002 by Congress that was intended to stimulate the economy out of its recession following the terrorist attacks on September 11. As a result of this bill, net operating losses could be carried back up to five years (through September 2003). This allows a firm to offset losses with tax obligations from years when profits were generated.

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