Office Depot said it will need to restate most of its financial statements for 2010 after the Internal Revenue Service denied an $80 million tax write-off under economic stimulus-based tax legislation enacted in 2009.

As a result, it will report a net loss of $46 million for 2010 instead of $33 million in net earnings.

Beazer Homes is the latest company to institute a poison pill to protect its valuable deferred tax losses.

The home builder Monday said it adopted what is known as a Section 382 stockholder rights plan, which is designed to preserve the value of certain deferred tax assets primarily associated with net operating loss carryforwards under Section 382 of the Internal Revenue Code.

Submitted by Caleb Newquist, republished from Going Concern, Accounting News for Accountants and CFOs.

There are plenty of businesses out there that simply don't have a plan. They may have a sign in the window, products on their shelves and a room full of "keepers" but not much else.

Surely, the last thing the Obama administration and Congress intended with the recent passage of health-care reform was to discourage small-business growth. But, as it turns out, that's a distinct possibility.

The culprit is a new tax credit aimed at helping small businesses and tax-exempt organizations offer health insurance to their employees.  Or, to be more precise, stipulations about what type of companies can receive help.