Corporate Nol Carryback 2025 Tax Return. To claim a refund of taxes for an nol carryback, taxpayers file a single tentative refund claim that covers all carryback years, or an amended return for each carryback year. Under the cares act, nols generated in taxable years beginning after december 31, 2017 and before january 1, 2021 may be carried back to the five taxable years preceding the tax year in which the nols.
Irc 6611(f) provides special rules for computing interest on refunds attributable to nol carrybacks. Understand the nol formula, deduction calculation, and how recent changes to carryback and carryforward rules impact corporate tax planning strategies.