This notice provides guidance in Q & A format to taxpayers on electing the 3, 4, or 5 year carryback of net operating losses or a 4 or 5 year carryback of losses from operations under section 13 of the Worker, Homeownership, and Business Assistance Act (WHBAA) of 2009.

This notice provides preliminary guidance regarding priority issues and requests comments involving the implementation of chapter 4 of the Code.