Job Creation and Worker Assistance Act of 2002 (JCWAA)


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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job classification job creation scheme