Revenue Procedure 2021-14 provides guidance regarding elections and revocations  related to § 2303(e) of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  Section 2303(e) of the CARES Act provides special rules for taxpayers with a net operating loss (NOL) for any taxable year beginning in 2018, 2019, or 2020, all or a portion of which consists of a “farming loss,” as defined by § 172(b)(1)(B)(ii) of the Internal Revenue Code (Code) (Farming Loss NOL). 

Revenue Procedure 2021-14 will be in IRB:  2021-29, dated July 19, 2021.