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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28081
Experience:  Taxes, Immigration, Labor Relations
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I.m a buisness owner of a c corpinvovled in constructed related

Customer Question

I.m a buisness owner of a c corpinvovled in constructed related manufacturing for year 2007 we incured substantial losses due to the downfall in construction buisness .Is the corporation eligable for tax refunds or carry backs?
Submitted: 8 years ago.
Category: Tax
Expert:  Lev replied 8 years ago.

Losses of C-corporation are not passed to shareholders.

A corporation generally figures and deducts a net operating loss (NOL) the same way an individual does.

The same 2-year carryback and up to 20-year carryforward periods apply, and the same sequence applies when the corporation carries two or more NOLs to the same year. For more information on these general rules, see Publication 536, Net Operating Losses (NOLs) -


Customer: replied 8 years ago.
Thank you and I would accept immediately once you give me this clarification. My real question was if the C Corp would get a refund check like individuals get from IRS, especially when heavy losses are incurred compared to previous year? I'm trying to get an idea about my working cap needs?

Expert:  Lev replied 8 years ago.

Yes - C-corporation would get refund for overpaid taxes after filing amended returns for last two years.

This is the form to use -

File separate form for each year and mark the years for which you are filing in the header.

Amount to be refunded should be on the line 12.


Lev and 3 other Tax Specialists are ready to help you
Customer: replied 8 years ago.
Thanks. wasif1100atgmail
Expert:  Lev replied 8 years ago.
Appreciate you for accepting the answer. I wish you the best.