Case Study: Leading Construction and Real Estate Company recovers $180,000 in taxes with Marcum LLP

Marcum Helps Company Recover 2013 Taxes, Increasing Liquidity for Upcoming Projects

Leading Construction and Real Estate Company, a mid-market family-owned construction contractor in the mid-Atlantic that was also building a commercial real estate portfolio, faced a liquidity challenge after a 2018 business loss was limited under the TCJA. With project funding strained further by the COVID-19 environment, the company turned to Marcum LLP and its tax advisory services for help identifying opportunities under the CARES Act.

Marcum LLP determined the company could carry back its 2018 net operating loss five years and file for a refund of taxes paid in 2013. As a result, the client recovered $180,000 in taxes, improving liquidity for upcoming projects and, if the refund was delayed beyond 45 days, qualifying for interest as well.