carryback

(redirected from Loss Carryovers)
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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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References in periodicals archive ?

The company ended 2018 with a net income of P631 million, flat compared to the P627 million recorded in 2017, which included P146 million in deferred tax benefit recognized on net loss carryovers of some entities.

Max's Group to spend P600-million capex in 2019

This additional activity presents students with more real-world situations and requires them to verify certain carryover amounts from one year to the next, including capital loss carryovers from Schedule D, Capital Gains and Losses, passive activity loss carryovers from Form 8582, Passive Activity Loss Limitations, and investment interest expense carryover from Form 4952, Investment Interest Expense Deduction.

Flip the tax return with a professor-prepared tax return

Net profit slightly rose from P626 million in 2017, which included P146 million in deferred tax benefit recognized on net loss carryovers of some entities.

Max's profit slightly up in 2018

In a disclosure to the Philippine Stock Exchange, the firm said its earnings in 2017 included P146 million in deferred tax benefit recognized on net loss carryovers of some entities.

Max's post P631-M profit

It's not possible to transfer capital loss carryovers from a decedent to a beneficiary.

A 'FINAL' RETURN: Income Tax Planning for a Client's Passing

In accordance with the draft PNOLC regulations posted by the DTF and DOF on May 5, 2017, a taxpayer with unutilized and eligible net operating loss carryovers from tax years prior to 2015 must first compute its net operating loss carryovers based on the rules in effect on Dec.

New York State and City Prior Net Operating Loss Conversions: Common Errors and Important Highlights

74-175 provides that capital loss carryovers expire upon a taxpayer's death and cannot be used on the estate's income tax return.

Planning opportunities for the final tax return: final arrangements should include many tax considerations for the decedent and his or her survivors

Pursuant to the Programme, the approved biotechnology companies may sell their unused Net Operating Loss Carryovers (NOLs) and unused Research and Development (R&D) Tax Credits for at least 80% of the value of the tax benefits to unaffiliated, profitable corporate taxpayers in the State of New Jersey.

Agile Therapeutics announces eligibility for New Jersey's Technology Business Tax Certificate Transfer Programme

It may make sense to use loss carryovers as soon as possible.

Past losses offer winning opportunities

Some banks will benefit from the tax cut outright this year, since they don't have deferred tax assets arising from loss carryovers.

Some banks have to list one-off expense for business income tax cut

Companies with net operating losses or net operating loss carryovers that eliminate current year income will not be able to take advantage of this deduction.

Domestic manufacturing deduction creates new benefit for taxpayers: new tax law provides for significant tax planning opportunities