Recover tax refunds with NOL carrybacks—that’s the not-so-secret strategy we use to put tens of thousands of dollars back into the pockets of business owners, especially those scaling into government contracts. This isn’t theory. This isn’t some tax loophole that might work. This is straight-up federal tax law, and we’ve been using it to generate $50K to $250K+ refunds for companies that thought they were broke or stuck.
If you’ve had a down year, paid taxes in the past, and just landed a government contract you need to fund—keep reading. This could be the best “loan” you never have to repay.
What Is the Icarus Fund Strategy?
Let us cut to the chase: the Icarus Fund is the system I built to help business owners recover tax refunds with NOL carrybacks quickly and effectively. It’s not a fund in the traditional investment sense—it’s a focused, CPA-backed strategy to help you unlock liquidity from prior tax filings.
We don’t sell loans. We don’t broker lines of credit. We simply go into your tax history and legally reclaim your money from the IRS using the power of Net Operating Loss (NOL) carrybacks. Think of it as retroactive tax justice—with a payout.
Why Government Contractors Love This Strategy
Winning a government contract is exciting—until you realize how much it costs to fulfill. Payroll, bonding, insurance, subcontractors—all before the first federal payment ever lands in your account.
That’s why recovering tax refunds with NOL carrybacks is a game-changer. One of my clients, Gina, landed a $2.1M federal cleanup project. But cash was tight. Her company had a $600K loss the year before from R&D and onboarding. We carried that back to her 2019 and 2020 tax years. The IRS sent her a $137,000 refund.
That money hit her account before her first federal invoice was approved. She used it to fund labor, secure a performance bond, and keep her project moving without taking on debt.
What Are NOL Carrybacks?
Let’s simplify this. A Net Operating Loss (NOL) happens when your business expenses are more than your revenue for the year.
In most cases, you’re told to carry it forward—offset future profits and reduce future taxes. But if you’re broke now, that does nothing for your cash flow.
Here’s where NOL carrybacks come in.
You take your recent loss.
Apply it to a previous profitable year.
Recalculate that year’s tax return.
Get a refund on the taxes you overpaid.
Boom. That’s how you recover tax refunds with NOL carrybacks—and do it without touching a bank.
How the Icarus Fund Recovers $50K+ for Clients
We’ve refined this process into a five-step playbook that works every time—assuming you qualify (and most of you do).
1. Review Prior Returns for Tax Paid
We look at the last 3–5 years of your tax filings. We want years where you actually paid taxes. These are the gold mines we’re going to target.
2. Identify Loss Years
Had a tough year recently? Perfect. That’s our ammunition. We calculate your NOL and determine how much of it can be carried back.
3. File for a Quick Refund
If we’re within 12 months of the loss year’s close, we can file IRS Form 1139 (for corporations) or Form 1045 (for individuals). These forms are processed faster than regular amended returns.
4. Use Strategic Timing
We align your refund filing with your government contract timeline. Need funds for mobilization? We target a refund before your first payment is even due.
5. Reinvest in Growth
Once the refund hits, clients use it to fund payroll, bonding, equipment, or even a down payment on a line of credit.
Clients Who Cashed In
Let’s talk about results. These aren’t hypotheticals.
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Logistics Firm – Recovered $68,000 in under 90 days. Used to prepay contractors for a FEMA transportation project.
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Cybersecurity Contractor – Claimed $92,000 in refunds. Used to fund clearances and hire cleared personnel for a DoD contract.
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Construction Company – Received $123,000 after carrying back a $500K NOL. Used refund to meet bonding requirements and secure a multi-year GSA contract.
They all had one thing in common: they didn’t know this was possible until we showed them how to recover tax refunds with NOL carrybacks.
Top Mistakes That Kill Refunds
Mistake #1: Missing the 12-Month Quick Refund Window
Once a loss year ends, you’ve got 12 months to file for a fast refund. After that? You’re stuck filing amended returns—slower, more complicated.
Mistake #2: Targeting Low-Tax Years
We always target the most profitable and highest tax years first. If you apply your loss to a low-income year, you’re leaving cash behind.
Mistake #3: Sloppy Documentation
The IRS wants receipts. Your financials must be tight. We audit-proof your NOL claim before we file it, so you get your refund faster—and cleaner.
Why This Beats a Loan (Every Time)
Still tempted to go with a private lender or high-interest line of credit? Ask yourself:
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Do you want to repay money with interest, or recover cash you already paid the IRS?
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Do you want to give up equity, or unlock cash using a tax rule?
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Do you want to wait 3 months for SBA approval, or 8 weeks for a check from the IRS?
When you recover tax refunds with NOL carrybacks, you get fast, non-dilutive, zero-debt capital that strengthens your balance sheet—without begging a bank.
You’re Probably Owed Money—Claim It
Here’s the harsh truth: if you’ve had a recent loss and paid taxes in the last few years, you might be sitting on $50K, $100K, even $200K in refunds—and not know it.
That’s the whole idea behind the Icarus Fund. We find what the IRS owes you and help you get it back—legally, fast, and with zero drama. Our clients don’t just recover refunds. They win more contracts, grow faster, and stay liquid during critical early phases.
And all they did was look backward before reaching forward.
Let’s Recover Your Refund
✅ Step 1: Schedule a free 15-minute tax refund review
We’ll look at your last few years of returns and tell you straight up if you qualify.
✅ Step 2: Download our “NOL Carryback Playbook”
Inside: timelines, form guides, refund calculators, and everything you need to prep for a claim.
👉 Click here to book your refund consultation now.
You earned that money. The IRS is holding it. Let’s get it back.
