NOL carry back

[Maribeth]

Oviously, I know the reasons to carry back. That wasn't the question.

The question was if a taxpayer entered into a payment plan for past taxes, are you still allowd to amend or carry back to those years?

yes you can.

[taxdude71]

Oviously, I know the reasons to carry back. That wasn't the question.

The question was if a taxpayer entered into a payment plan for past taxes, are you still allowd to amend or carry back to those years?

[Possi]

Salvation?

I don't know of a better reason to carry back. Seems like that is why we do it, to save people from back taxes and to get refunds from prior years.

Is there any reason you would not or could not carry back? Anyone?

[taxdude71]

I have a client that has a large NOL this year. He owes back taxes for about the last 3 years. Usually I would suggest doing a carry back, but he has entered into payment agreements with the fed and state on these back taxes.

Rusty on payment agreements. Doesn't this mean that you cannot amend or carry back to these years now?