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carry back
(redirected from carryback)

   Also found in: Medical, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
carry back Tax accounting
vb
(Economics, Accounting & Finance / 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 carry-back
(Economics, Accounting & Finance / Accounting & Book-keeping) an amount carried back
ThesaurusLegend:  Synonyms Related Words Antonyms
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
? carry back
vt sep (fig) personzurückversetzen (→ to in +acc)


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6511(d)(2)(B) (i), which allows a refund attributable to an NOL carryback notwithstanding "the operation of any .
The IRS issued a clarifying revenue procedure because many taxpayers had inadvertently submitted invalid elections to claim a three-, four- or five-year carryback for 2008 NOLs (Revenue Procedure 2009-26, 2009-19 IRB 935).
13, the Internal Revenue Service (IRS) released a statement to remind business owners that the fall filing deadline to take advantage of the expanded business loss carryback option is getting close.
 
 
 
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