If you’re sitting on a recent business loss and scrambling for capital after landing a government contract, let me make this simple for you: IRS Form 1045 NOL carryback is one of the fastest, least talked-about ways to get cash in your hands right now. Most business owners have no idea the IRS owes them money. Yes, seriously. They paid taxes in profitable years, lost money last year, and don’t realize they can carry that loss back and get a refund—fast. At Icarus Fund, we help turn those forgotten tax credits into real cash without the paperwork nightmares or bank loan headaches.
Why IRS Form 1045 NOL Carryback Is a Game-Changer
Let’s get real. Government contracts are great—until they choke your cash flow. You land a $2 million job with the VA, but now you’ve got to pay subcontractors, cover materials, hire staff, and get compliant before your first invoice is paid. Traditional loans? Too slow. Your past losses? Now those are an asset. That’s where IRS Form 1045 NOL carryback steps in.
The IRS created this form to let businesses offset prior year taxes with current-year losses. In plain terms: you overpaid taxes during profitable years, and now you get a chunk of that money back. It’s not a loan. It’s your money, and we help you claim it.
What Exactly Is IRS Form 1045 and Who Should Use It?
IRS Form 1045 is called the “Application for Tentative Refund.” Sounds bureaucratic, right? Don’t let the name fool you. It’s designed to fast-track refunds tied to net operating losses (NOLs) and other credits. If you’re a business owner, sole prop, or trust and you had a loss this year, this form helps you apply that loss to earlier years when you paid taxes.
Here’s the deal: If you’re working on a government contract and need capital now, this is one of the quickest ways to stabilize your finances. And Icarus Fund can get it filed fast, with zero hassle on your end.
When Should You Use It?
Simple:
✅ You had a net operating loss this year.
✅ You had taxable income in prior years.
✅ You need cash in 90 days or less to fund your project.
One of our clients, a service-disabled veteran business owner, had a $250K loss last year due to expansion costs tied to a new contract. We reviewed his prior filings and carried the loss back to 2019—when he had paid a hefty tax bill. That IRS Form 1045 NOL carryback? It triggered a $90,000 refund check. No loan required. He used that to buy equipment and pay field staff without skipping a beat.
What You Need to File IRS Form 1045
Before you file, you’ll need a few pieces in place:
A copy of your current-year tax return showing the loss
Tax returns from the prior five years (to target profitable ones)
NOL calculation schedules
Supporting statements showing how you arrived at your numbers
Accuracy is non-negotiable here. The IRS moves faster when you send them clean, well-documented numbers. That’s why Icarus Fund doesn’t cut corners—we build your claim to get approved quickly and deliver maximum value.
Filing IRS Form 1045 NOL Carryback Without the Headache
Step 1 – Confirm the Loss Is Valid
First, you must prove your business loss. Expenses have to exceed income after deductions. We analyze your numbers and ensure they hold up under IRS review.
Step 2 – Pick the Best Prior Years
You don’t want to waste your NOL on a year where you barely paid tax. Icarus Fund helps you target the most profitable years for the biggest possible refund. The IRS allows up to a five-year carryback, so we go deep.
Step 3 – Complete and Submit Form 1045
We complete the form line by line—no errors, no guesswork. Then we submit it to the correct IRS service center with your full supporting documentation. The IRS calls this a “tentative refund,” but trust us—it moves faster than waiting on an amended return.
How Long Does It Take to Get Paid?
Typically, 45 to 90 days. Sometimes faster. That’s why this is such a weapon for contractors who’ve just won government deals. You can’t afford to wait 3 months for your first federal payment to hit. When you use IRS Form 1045 NOL carryback properly, you unlock real working capital—funds you already earned.
Common Mistakes That Kill Refunds
Let’s not sugarcoat it—most rejected refund claims are preventable. Here’s where businesses mess it up:
Filing too late (there are strict deadlines)
Choosing the wrong carryback years
Misreporting the NOL amount
Sending incomplete documentation
That’s why Icarus Fund exists. We know the traps. We build it clean. We get it approved.
You Already Paid the IRS—Now It’s Time to Get Paid Back
If you’ve been through a rough year financially but you’ve got a major contract to deliver, don’t go broke trying to grow. Let us show you how IRS Form 1045 NOL carryback puts your money back where it belongs—in your hands.
You’ve already taken the risk. Now it’s time to claim the reward.
🚀 Call to Action
If you’ve had a business loss and need working capital to fulfill a government contract, don’t wait.
Let Icarus Fund help you file IRS Form 1045 NOL carryback the right way—fast, accurate, and stress-free.
👉 Contact us now to unlock your refund and keep your business moving forward without skipping a beat.
