Carry-Back
The name given to the method provided under federal tax law that allows a taxpayer to apply net operating losses incurred during one year to the recomputation of INCOME TAX owed to the government for three preceding taxable years.
The name given to the method provided under federal tax law that allows a taxpayer to apply net operating losses incurred during one year to the recomputation of INCOME TAX owed to the government for three preceding taxable years.
Please include a link to this page if you have found this material useful for research or writing a related article. Content on this website is from high-quality, licensed material originally published in print form. You can always be sure you're reading unbiased, factual, and accurate information.
Highlight the text below, right-click, and select “copy”. Paste the link into your website, email, or any other HTML document.
User Comments Add a comment…