David Zimmerman was quoted on how changes to the net operating loss (NOL) carryback provisions enacted by the Coronavirus Aid, Relief, and Economic Security (CARES) Act may effect corporate mergers and acquisitions transactions. Zimmerman said that until the Tax Cuts and Jobs Act (TCJA) eliminated the two-year carryback provision companies would address loss provisions in their purchase agreement. Since the TCJA eliminated the loss provision, these issues have not generally been addressed. The CARES Act however, now allows for a five-year carryback provision which is now making companies deal with the economics of the extended carryback period that had not been accounted for in their M&A deals Zimmerman stated.