If you’re looking to claim backdated tax credits with NOL, you’re about to unlock one of the most powerful and underused financial strategies in the tax code. This isn’t a gimmick or some complex loophole. It’s the IRS handing you back real money for taxes you already paid—if you know how to ask for it the right way. And if you’re a business that just landed a government contract and you’re scrambling for cash to fulfill it, this strategy could be the fastest path to the capital you need.
The IRS Doesn’t Advertise This, But It’s 100% Legal and Lucrative
Here’s what most small business owners don’t realize: past losses aren’t just setbacks. They’re assets—when you know how to use them. If your business had a bad year—whether from scaling too fast, inflation, COVID hangover, or anything else—you may be sitting on a Net Operating Loss (NOL). And that NOL is your ticket to claim backdated tax credits with NOL and receive a refund from prior profitable years.
It works like this: You take your recent loss and apply it to offset income from up to five years ago. Let’s say you had a $300,000 loss in 2023. If you made solid profits in 2020, 2021, or 2022 and paid income taxes on that money, you can “go back in time” and wipe out those profits—on paper. The IRS then cuts you a refund check for the taxes you overpaid.
It’s like turning yesterday’s losses into today’s funding.
Government Contracts Come with Big Opportunities—and Big Expenses
Winning a federal contract feels amazing. But here’s the hard truth most new contractors discover fast: the government doesn’t pay upfront. You need to staff the project, purchase materials, maybe even ramp up facilities—and you might not see a dollar for 30, 60, or even 90 days.
This is where the real stress kicks in. You’ve got a major deal in hand but no liquidity to move on it. This is exactly where we come in.
At Icarus Fund, we specialize in helping businesses claim backdated tax credits with NOL so they can use that IRS refund as working capital—before the first government check ever hits the account.
A Contractor Who Turned a $400K Loss Into a $160K Refund
One of our clients—a veteran-owned environmental services company—landed a $2.2 million contract with the Department of the Interior. Huge win. But they needed equipment and labor to start executing in 30 days. The kicker? They had posted a $400,000 loss the year before due to a major upfront investment in their expansion.
Most people would panic. But we looked at their prior years and found over $600,000 in taxable income from 2019 and 2020. We filed Form 1045 for a fast-track NOL carryback. Sixty-eight days later, they had $160,000 in their account—taxes they had already paid—and used that cash to fund the first phase of their contract. No debt. No waiting.
That’s how you win twice—once with the contract and again with the tax code.
The Magic IRS Form: Why Form 1045 Matters
To claim backdated tax credits with NOL, the IRS gives you two options: amend each previous year’s return (slow and painful), or file Form 1045, which is the “tentative refund” form. It’s designed to speed things up, usually paying out within 60–90 days if you file everything correctly.
But there’s a catch: you have to file it within one year of the NOL year’s end. That means if you’re trying to claim a loss from 2023, your deadline is December 31, 2024. Miss it, and you’ll be stuck with the slower amended route.
At Icarus Fund, we file Form 1045 for clients every single week. We’ve mastered the process—and more importantly, we optimize it. Because it’s not just about filing—it’s about making sure you get the maximum refund possible.
Strategy First: Bigger Refunds Come from Smarter Carrybacks
Here’s where most people leave money on the table: they don’t think strategically about which prior year to apply the loss to. You might have paid 25% in taxes in 2019, but only 15% in 2021. That makes a big difference when you’re trying to recover cash.
We look at your last five years and identify where your NOL will create the largest possible refund. We also factor in existing credits, deductions, and filing timing to make sure we don’t trigger any unnecessary IRS red flags.
Bottom line: it’s not about just claiming the credit—it’s about claiming it right.
Avoid These Pitfalls When Claiming NOL Refunds
Let’s keep it real: the IRS isn’t known for making this easy. If you try to go it alone, you’re likely to run into one of these issues:
1. Missed Deadlines
If you don’t act within the one-year window for Form 1045, you’re adding months of delay.
2. Wrong Year Chosen
You applied the NOL to a year that gives you a smaller refund. That’s money left on the table.
3. Incomplete Documentation
Missing statements, misfiled forms, or lack of supporting schedules = IRS delays.
At Icarus Fund, we eliminate these mistakes. We manage the entire process—from gathering your financials to filing and tracking your IRS refund—so you can focus on winning contracts and growing your business.
Why Icarus Fund? We Turn Past Losses Into Present Fuel
Let’s be clear. This is not about accounting—it’s about funding. And funding is what we do.
At Icarus Fund, we help small businesses and government contractors claim backdated tax credits with NOL and use those refunds as strategic capital. Whether you’re gearing up for your first federal job or scaling up to handle more, we make sure past losses don’t just sit on a spreadsheet—they hit your bank account.
We:
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Analyze your tax history for NOL opportunities
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Optimize carryback years for max refund
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File Form 1045 with all supporting documentation
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Track your refund from submission to payout
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Plug the refund into your overall capital strategy
The IRS Owes You. Let’s Go Get It.
If your business took a loss last year, and you’ve paid taxes in years prior, you are likely owed money. That money could be the difference between getting your contract off the ground—or watching it slip through your fingers.
Don’t let that IRS refund stay buried in your past. Use it to fund your next big move, cover payroll, lease equipment, or just give yourself breathing room as you grow.
Ready to Claim What’s Yours?
👉 Book a free consultation with Icarus Fund today.
We’ll review your returns, identify how much you could recover, and walk you through the fastest way to claim backdated tax credits with NOL.
You already did the hard part. Now let us help you turn that loss into a win—without taking on more debt, chasing investors, or waiting months to get paid.
Let Icarus Fund help you cash in on the taxes you’ve already paid. This isn’t a maybe. It’s yours—go get it.
