Have NOL? Special carryback availableFor 2008 and 2009, the IRS is allowing a NOL (net operating loss) to be carried back 5 years instead of 2.
This means you can recover more of the taxes paid in those previous years than normal. Normal has been 2 years. You can see for those business owners hurting from a couple of recent bad years, this could really help them.
If this scenario applies to you, give me a call and I'll be glad to help.
I am a CPA in San Antonio and serve individuals and small businesses in San Antonio and surrounding areas.
Richard J. Garcia | 05/04/2010