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3. Taxpayer Y owes $1,000 of tax from taxable year 2011. In 2013, Y incurs a net operating loss that Y carries back to 2011,
3. Taxpayer Y owes $1,000 of tax from taxable year 2011. In 2013, Y incurs a net operating loss that Y carries back to 2011, eliminating the taxable income and tax for that year. Does the carryback of a loss to satisfy the underpayment of tax abate accrued interest? Explain
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