Nol Carryback Rules For 2025. If a taxpayer does not waive the carryback, but fails to timely claim a refund for prior. A net operating loss (nol) carryback allows businesses suffering losses in one year to deduct them from previous years’ profits.
Net operating loss (nol) provisions are critical considerations for startups and smes planning their global expansion. Under the cares act, an nol must be carried back unless the carryback is waived.
