1. Which of the following statements regarding net operating losses generated in 2021 is true?

		A. Corporations can carry the NOL back two years and forward up to 20 years.
		B. A corporation can carry over the NOL indefinitely.
		C. A corporation can carry the NOL back two years and forward indefinitely.
		D. When a corporation applies a net operating loss carryover, it reports a favorable, permanent book-tax difference in the amount of the applied carryover.
		E. None of these is a true statement.

2.

1. What is the UN-extended, or original, due date of the tax return of a calendar year corporation for 2021?

   		A. February 15th
   		B. March 15th
   		C. April 15th
   		D. October 15th
   		E. No due date, they can file whenever they want.