carry back


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carry back

vb
(Accounting & Book-keeping) (tr, adverb) to apply (a legally permitted credit, esp an operating loss) to the taxable income of previous years in order to ease the overall tax burden
n
(Accounting & Book-keeping) an amount carried back
ThesaurusAntonymsRelated WordsSynonymsLegend:
Verb1.carry back - deduct a loss or an unused credit from taxable income for a prior period
deduct, subtract, take off - make a subtraction; "subtract this amount from my paycheck"
Translations

w>carry back

vt sep (fig) personzurückversetzen (→ to in +acc)
References in classic literature ?
Say, that you could carry back your thoughts to very distant days--to the time of your early life--when, unlike this fair flower, you did not pass your youth alone.
To be able to carry back to their far homes the boast that they had seen the man who could command the sun, riding in the heavens, and be obeyed, would make them great in the eyes of their neighbors, and envied by them all; but to be able to also say they had seen him work a miracle themselves -- why, people would come a dis- tance to see THEM.
However, an election can be made, normally through the Self-Assessment Tax Return, to carry back a later year's donation to the previous tax year.
If there is a CERIL in a loss limitation year, a C corporation can carry back only the portion of the NOL for the loss limitation year in excess of the CERIL to a year prior to the year of the CERT transaction.
For a detailed discussion of the issues in this area, see "Mitigating the Results of a Failure to Carry Back an NOL," by Robert L.
Special train will carry back the flood affected people from Relief Camps at Quetta to Dera Murad Jamali tomorrow.
Small businesses that opted for five-year carry-back for 2008 losses can also elect to carry back 2009 losses.
As if attacks from your enemies weren't enough, players can feed captive princesses more food so that she becomes heavier and harder to carry back to her respective castle.
Grant Thornton corporate tax partner David Jewkes said: "Businesses should act now to Inform HM Revenue & Customs (HMRC) that they Intend to carry back trading losses currently being suffered.
The morning charter flight from Miami to Havana looks like a traveling emporium as Cuban exiles carry back items ranging from DVD players to bicycles for friends and relatives, reports Reuters (Feb.
Carry-back losses: If you had a loss for 2006, you can carry back that loss against the taxes you paid the prior two years and get a refund.
He approvingly quoted his mercantilist mentor Henry Clay as saying that "there is a moral fitness in the idea of returning to Africa her children" since "they will carry back to their native soil the rich fruits of religion, civilization, law and liberty," and that sending all blacks back to Africa would prove a "signal blessing to that most unfortunate portion of the globe.