Tax Law Changes Make Life Harder for Firms Facing Coronavirus Losses

Daniel Luchsinger is quoted in The Wall Street Journal regarding the effects of the Tax Cuts and Job Act on businesses in the wake of coronavirus losses. The article states that the 2017 tax code overhaul is making life harder for U.S. businesses who have suffered losses and are seeking liquidity. Mr. Luchsinger says, “You want some safety valve in the system that allows for liquidity, cash liquidity. We’re in a world now where there is no quickie refund.” He adds, “Companies and policy makers need to understand that we’re operating from a hole that we have not operated from in the past.”