Let’s talk straight—emergency tax relief with NOL carrybacks is one of the most underused cash strategies in the business world. And if you’re a company that just won a government contract but your bank account looks like it’s been on a diet, this could be your golden ticket.
Most entrepreneurs I meet are juggling invoices, fronting expenses, and praying that milestone payments show up on time. Meanwhile, they’re sitting on a tax code loophole that could send tens (or hundreds) of thousands of dollars back into their business—now.
I’m talking about using your losses today… to get refunds from taxes you already paid in the past. Yes, it’s legal. Yes, it’s fast. And yes, Icarus Fund specializes in making it happen.
What Is an NOL Carryback? (And Why Should You Care?)
An NOL—or Net Operating Loss—is what happens when your business expenses exceed your revenue for a tax year. Now, normally that’s bad news. Nobody wants to report a loss.
But here’s the twist: with NOL carrybacks, you can take that loss and “carry it back” up to five years, applying it to years where you did make a profit—and already paid taxes.
Boom. The IRS owes you money. That’s what we call emergency tax relief with NOL carrybacks. You’ve basically overpaid taxes in those years, and now you get a refund.
Why Government Contractors Are the Perfect Fit
The Cash Crunch Is Real
You win a contract worth $1.5 million. Awesome. But now you have to hire staff, buy materials, and meet compliance standards—before you get paid. Meanwhile, your burn rate is climbing, your credit lines are stretched, and payroll is around the corner.
That’s when the panic sets in. I know because I’ve been there.
Years ago, I worked with a defense contractor who had just landed a multi-year contract with a federal agency. On paper, they were crushing it. But the owner called me with a cracked voice: “We’re about to default on payroll, and our first payment isn’t coming for 90 days.”
They had a $600,000 loss for the year due to front-loaded costs.
We filed an NOL carryback and recovered over $200,000 in taxes they’d paid just two years earlier.
Problem solved—no loans, no giving up equity, no begging the bank for mercy.
Here’s How Emergency Tax Relief with NOL Carrybacks Actually Works
Let’s say your business shows a $300,000 loss in 2024. But back in 2019 and 2020, you were profitable—and paid taxes on those earnings.
We take that $300,000 loss, apply it to the 2019 and 2020 tax years, and file for a refund on the taxes you paid during those years. Within weeks, that refund shows up as real money in your bank account.
That’s cash you can use to:
Fund payroll
Buy materials
Make rent
Survive until your next contract payment hits
The best part? You’re not taking on debt. You’re just recovering money you already paid.
Fast Track Refunds with Icarus Fund
Let me make this clear: this is not something you want to fumble through on your own. The IRS has specific forms, tight windows, and if you miss a detail, you’re out of luck.
At Icarus Fund, we do this every day. We work exclusively with businesses like yours—contractors who’ve won government contracts but are stuck waiting on checks while burning through cash.
We use IRS Form 1045 for what’s called a “quick refund,” and we guide you step-by-step to make sure it’s clean, fast, and bulletproof.
You won the contract. You put in the work. Don’t let the IRS keep money that could save your business.
Turning a $400K Loss Into a $150K Lifeline
One of our clients, a cybersecurity firm, took a $400,000 hit in their ramp-up year after landing a federal defense contract. They were profitable for years prior but had to invest in equipment, security clearances, and talent fast.
We helped them file an NOL carryback to 2018 and 2019. Within 10 weeks, $150,000 hit their bank account.
That refund? It funded another two months of operations and bought them time to get paid by the DoD.
That’s emergency tax relief with NOL carrybacks in action.
Are You Sitting on a Refund Right Now?
Let’s break it down. If any of the following apply to you, we need to talk:
You’ve had a net operating loss in the past 3-5 years.
You were profitable before that.
You’ve recently landed a large government contract.
Your cash flow is tight, and you need relief fast.
Chances are, there’s money on the table—and the IRS isn’t going to hand it back unless you know how to ask for it.
This Isn’t a Hack. It’s a Game-Changer.
Look, I’m not here to pitch fluff. If you want to grow, hire, and deliver on contracts, you need cash. And fast.
Emergency tax relief with NOL carrybacks isn’t a loophole. It’s a strategy used by smart businesses to reclaim what’s rightfully theirs. And when done right—with Icarus Fund in your corner—it’s one of the fastest paths to liquidity that exists in the tax code.
This is how you keep the doors open. How you keep momentum. How you win the long game without burning out in the short game.
Ready to Get Your Refund? Let’s Talk
Stop waiting for contract payments. Stop stressing over payroll. Let Icarus Fund show you how to unlock the refund you’ve already earned.
👉 Book a free strategy session today
👉 Get an estimate of your potential refund in under 15 minutes
👉 Let’s turn your losses into cash—fast
The IRS owes you. Let’s go get your money.
