In this episode of McGuire on the Wire, Dave McGuire explains updates under the CARES Act to net operating loss (NOL) carrybacks and related tax planning opportunities. The CARES Act provides a five-year NOL carryback, which can help most taxpayers access significant refunds. Considering a cost segregation study and accessing additional depreciation deductions is especially important in an election year, as President-Elect Joe Biden may attempt tax policy changes in 2021. Dave also explains additional provisions from the IRS which could provide tax relief.