What's the difference between
and
Enter two words to compare and contrast their definitions, origins, and synonyms to better understand how those words are related.

Terms vs Carryback - What's the difference?

terms | carryback |

As nouns the difference between terms and carryback

is that terms is while carryback is (accounting|taxation) a income tax loss or credit that can be applied to offset previously taxed income or taxes paid, respectively.

terms

English

Noun

(head)

    • Statistics

    * ----

    carryback

    English

    Noun

    (en noun)
  • (accounting, taxation) A income tax loss or credit that can be applied to offset previously taxed income or taxes paid, respectively.
  • * {{quote-news, year=2009, date=March 18, author=Lynnley Browning, title=I.R.S. Plans a Deduction for Madoff Victims, work=New York Times citation
    • , passage=Current theft loss rules typically allow losses to be carried back three years and forward 20 years, but the I.R.S plan will allow carrybacks of as many as five years, generally if the loss is for a small business with gross annual receipts of less than $15 million.}}

    See also

    * carryforward * (Net operating loss)