Mr Cooper Group Inc (COOP)

[Docsavag]

LG,

Your comments here made me dig into the "Homeownership Carryback Refund" a bit. You might find this link interesting:

http://www.vieracpa.com/taxes-miami/losses_into_refunds.html

Under the American Recovery and Reinvestment Act of 2009, for a tax year that began or ended in the 2008 calendar year, an “eligible small business” could elect a three-, four- or five-year NOL carryback period for certain losses, instead of the usual two-year period. An eligible small business is one whose average annual gross receipts for the three tax years ending with the year of the NOL are $15 million or less. For tax years ending after Dec. 31, 2007, and those beginning before Jan. 1, 2010, the Worker, Homeownership and Business Assistance Act of 2009 removed the eligible small business requirement, making the extended carryback period available to businesses of any size. However, the election may be made for either 2008 or 2009 but not both. In addition, if an NOL is carried back to the fifth preceding year, it can be used to offset only 50% of the taxable income in that carryback year. This extended carryback period will benefit many taxpayers by providing a relatively quick cash infusion of a larger amount than would be available with a two-year carryback. See Revenue Procedure 2009-52 for IRS guidance on making the carryback election.