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carryback
(redirected from Loss Carry-Back)

   Also found in: Financial 0.01 sec.

carryback n. in taxation accounting, using a current tax year's deductions, business losses or credits to refigure and amend a previously filed tax return to reduce the tax liability. (See: carryover)



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Small business was not forgotten and North East businesses will welcome the decision to extend the three-year loss carry-back scheme - this is of real benefit to small businesses.
The bill offers a loss carry-back provision that would allow money-losing companies to claim tax credits on past profits dating back five years instead of two A coalition of small and minority business organizations is calling for action to restore the flow of credit to small firms.
Net Operating Loss Carry-Back--Extend the five-year net operating loss carry-back for three years (2003 through 2005) and hold taxpayers harmless for AMT.
 
 
 
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