This paper investigates the inter-temporal loss usage of tax units in Germany. Tax units that experience a loss in a … year can offset that loss with positive income from adjacent year to receive a tax refund. Similar to companies, tax units … can employ losses as carry-back in the year before the loss or as carry-forward in the year following the loss. The tax …

tax returns covering the period 2001 to 2006. Employing censored quantile regression and exploiting the panel structure … and income from temporary reactions, consumption smoothing, or tax planning. Indeed, our results suggest that price …