carryback

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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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Gross deferred tax assets are admitted to an amount equal to the sum of federal income taxes paid in prior years that can be recovered through loss carry-backs for existing temporary differences that reverse by the end of the subsequent calendar year, and the amount of gross deferred tax assets expected to be realized with one year of the balance sheet date, or 10% of statutory capital.
The airline, which filed for bankruptcy on 9 December, included the expected recovery from tax overpayments plus interest and net operating loss carry-backs as key assets to help fund its restructuring.
Federal income taxes paid in prior years recoverable through loss carry-backs for existing temporary differences that reverse by the end of the subsequent calendar year.
In addition, net operating loss carry-backs and carry forwards will reduce future cash taxes.
This article will focus on tax strategies to employ, taxable income computations, deductible expenses, capital gains and losses, operating loss carry-backs and carry forwards, pension plans, tax credits, administrative matters and S corporations.
89 per share, primarily related to the recognition of tax net operating loss carry-backs.
Generally speaking, gross tax assets shall be admitted in an amount equal to the sum of (1) federal income taxes paid in prior years that can be recovered through loss carry-backs for existing temporary differences that reverse by the end of the subsequent calendar year; (2) the lesser of (a) the amount of gross deferred tax assets expected to be realized within one year of the balance sheet date, or (b) 10% of statutory capital and surplus as required to be shown on the statutory balance sheet of the entity for its most recently filed statement.
88 per share, primarily related to the recognition of fiscal 2009 tax net operating loss carry-backs.
This deduction substantially reduced the Company's 1993 income tax liability and generated tax loss carry-backs and carry-forwards.
86 per diluted share, primarily related to the recognition of fiscal 2009 tax net operating loss carry-backs.
88 per share, primarily related to the recognition of fiscal 2009 tax net operating loss carry-backs realized through the recent change in tax laws, which increased the number of historical years that companies can carry back losses.
The income tax benefit for the quarter ended April 30, 2010 was primarily attributable to net operating loss carry-backs identified and recognized during the period.