J.P. Morgan Chase & Co. is nearing a deal that would allow it to benefit from a tax refund of as much as $1.4 billion, becoming the latest company to tap a little-noticed plank in an economic stimulus bill.
That law let companies apply losses from 2008 or 2009 against taxes paid in the previous five years, instead of the previous two years. Failed Seattle thrift Washington Mutual Inc. is eligible for about $2.6 billion in tax refunds, thanks to big losses in 2008. Now J.P. Morgan, which took over WaMu's banking operations in September 2008, is in discussions with ...
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