RMC No. 81-2026 redacted

RMC No. 81-2026 prescribes interim workaround procedures for claiming the five-year Net Operating Loss Carry-Over (NOLCO) for losses incurred in taxable years 2020 and 2021 — as allowed under Section 4 of RR No. 25-2020 — in returns filed through the Offline eBIRForms Package and eFPS, whose current versions accept NOLCO input only for the three immediately preceding taxable years. Taxpayers must reflect NOLCO in the NOLCO Schedule/Table to the extent the system allows and enter the remaining 2020/2021 amounts under the Special Allowable Itemized Deductions Schedule, indicating the specific NOLCO year (e.g., 'NOLCO - TY 2020') and the stated legal basis (OCR: 'RA 11tg4', apparently RA 11494) in the description field, without exceeding the allowable NOLCO deduction, then validate and submit. The workaround applies only to 2020/2021 NOLCO claims — including fiscal years ending July 31, 2020 to June 30, 2022, treated as TY 2020/2021 losses per RMC No. 138-2020 — and does not affect the validity of the electronically filed return; fiscal years ending outside that window cannot avail of the extended two-year carry-over.