A technique for receiving a refund of back taxes by applying a deduction or credit from a current year to a prior year. also called carryback.
Related information about tax loss carryback:
- Loss Carryback Definition | Investopedia
An accounting technique with which a company retroactively applies net operating losses to a preceding year's income in order to reduce tax liabilities present in ...
- What is a Tax Loss Carryback?
A tax loss carryback is a business accounting practice in which a loss is applied to a previous year or years when more taxes were...
- Tax Loss Carryback - Financial Dictionary - The Free Dictionary
In accounting, a way for a company to reduce its tax liability by applying a net operating loss to previous years in which it made a profit. If a company deducts ...
- Tax Loss Carrybacks and Carryforwards
Corporations that are experiencing operating losses may obtain tax relief by using a tax loss carryback/carryforward. The tax laws allow corporations to carry tax ...
- What is a Carryback - Filing Business Taxes - About.com
This provision is also called a tax loss carryback. Another similar provision is a tax loss carry forward, which allows a business to offset tax losses in the current ...
- Tax Loss Carryback, Carryforward: Definition from Answers.com
tax benefit that allows a company or individual to apply losses to reduce tax liability. A company may offset the current years net operating losses against.
- Tax-Loss Carryback Provision Glides in Congress - Businessweek
Nov 2, 2009 ... Congress appears to be on the verge of giving a $30 billion-plus handout to U.S. corporations but—unlike so many other spending ...
- What is tax loss carryback? definition and meaning
Definition of tax loss carryback: A technique for receiving a refund of back taxes by applying a deduction or credit from a current year to a prior year. also called ...