Strategies to optimize your finances

Form 8275 lets taxpayers and preparers disclose items or positions on a tax return to avoid certain IRS penalties. See how the disclosure works. 

How the excess business loss limitation under Section 461 caps business losses for noncorporate taxpayers, and how Form 461 carries the rest forward.

IRS Form 926 reports property transfers to foreign corporations. See who must file, the 10% and $100,000 triggers, and the penalty for not filing.

Net operating loss rules explained: NOL carryforward and carryback limits, the 80% deduction cap, and how to figure NOLs on Form 172.