Back Taxes & Unfiled Returns
“My business generated a massive net operating loss this year, can I still carry this loss back to previous highly profitable years to claim an immediate tax refund?”
A large net operating loss can sometimes affect prior profitable years, but the result often depends on the business entity, the tax year involved, and whether any carryback rules apply to that specific loss. The timing of the loss, any elections already made, and how the business structure reports income can all shape whether an immediate refund is possible or whether the loss is instead carried forward. Records showing the source of the loss and the earlier returns involved are usually important in working through the available options. A focused session can map this against your actual situation in plain English.
In your 90-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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