Joseph C. Hernandez

Carry Back Nols 2025. For most taxpayers, nols arising in tax years ending after. This tax planning strategy enables businesses to carry forward net operating losses (nols) from past years to offset future taxable income.

Moreover, nols could reduce taxable income to zero in the carryback or carry forward. For net operating losses (nols) arising in tax periods beginning before january 1, 2018, taxpayers may elect to forgo the carryback period and carry the entire nol forward 20 years.