NOL carrybacks for small business owners are the most overlooked tax strategy to unlock fast, non-dilutive funding. At Icarus Fund, we specialize in turning past business losses into $50K–$250K+ IRS refunds—funds you can use to fuel growth, cover payroll, or mobilize for government contracts. No loans. No equity. No waiting months on SBA paperwork.
If your business took a hit last year, but you were profitable before, the IRS may owe you money. We’re here to make sure you get it back—fast.
Why Small Business Contractors Choose Icarus Fund
Winning a government contract is a big win—but it also brings a big cash crunch. Most contracts are net 30 or net 60, but expenses like bonding, labor, insurance, and materials are due upfront. That’s where Icarus Fund steps in.
We helped a small electrical firm recover $64,000 in under 90 days by carrying a 2023 loss back to 2019 and 2020. That refund kept the business moving, covered startup costs, and eliminated the need for short-term financing.
We built Icarus Fund specifically to help small business owners recover tax refunds with NOL carrybacks and use that cash to power contract performance.
What Is an NOL Carryback (and Why Should You Care)?
An NOL—Net Operating Loss—happens when your expenses exceed your revenue for a given year. That’s common when:
You hire fast
Purchase equipment
Invest in growth
Or wait months for government payments
An NOL carryback lets us take that recent loss and apply it to a previous year when you made money and paid taxes. We then file for a refund of the overpaid taxes. The IRS sends you a check.
At Icarus Fund, we’ve made it our mission to unlock that hidden capital and put it to work for small business owners.
How NOL Carrybacks for Small Business Owners Work—Step by Step
Step 1: We Identify Your Loss Year
We start by analyzing your most recent tax return. If you had a qualifying loss, that’s our starting point.
Step 2: We Target Your Most Profitable Years
We dig into your past 2–5 years of tax filings to find where you paid the most in taxes. That’s where the biggest refund opportunities live.
Step 3: We File a Quick Refund Claim
Using IRS Form 1045 (for individuals and sole proprietors) or Form 1139 (for corporations), we file for a quick refund. No amended returns needed if you’re within the 12-month window.
Step 4: You Receive a Refund—Fast
In most cases, the refund hits your account in 60 to 90 days. That’s money you can use to bridge contract costs, expand, or reinvest in your business.
Who Can Benefit from NOL Carrybacks?
NOL carrybacks for small business owners apply to:
S-Corps
C-Corps
LLCs
Sole proprietors
If your business had a legitimate loss and previously paid income taxes, you’re likely eligible. Icarus Fund handles the entire process—so you don’t need to worry about forms, strategy, or deadlines.
Why Icarus Fund Is Built for Government Contractors
Government contracts are full of opportunity—and cash flow gaps. You’re spending long before the first invoice clears. Icarus Fund exists to bridge that gap using your own past tax payments.
Here’s How We Help:
Unlock fast refunds to cover startup costs
Improve your financial position for bonding and compliance
Give you cash flow without loans or investors
One of our clients, a veteran-owned contractor, used a $94,000 NOL refund to fund payroll and equipment ahead of a VA hospital job. Another used a $51,000 refund to meet a matching fund requirement for a FEMA contract.
Avoid These Costly Mistakes
Our process is designed to help you avoid the missteps that cost businesses thousands in lost refund opportunities:
1. Missing the Filing Window
You have 12 months after your loss year to file a quick refund claim. Wait too long, and you’ll face delays with amended returns.
2. Targeting the Wrong Tax Years
We help you apply your losses to the most profitable, highest-tax years to maximize your refund.
3. Filing Inaccurate or Incomplete Forms
Precision matters. Icarus Fund ensures your forms are audit-proof, fully documented, and submitted correctly the first time.
Why Icarus Fund Instead of Loans, Equity, or Waiting
Here’s the reality:
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You don’t need to borrow when the IRS owes you.
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You don’t need to dilute your ownership.
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And you don’t need to wait months on a government lender.
With Icarus Fund, you recover capital you’ve already earned—fast, clean, and with zero strings attached. We turn past tax payments into present-day funding.
Client Success Stories
Here’s what small business owners are doing with the refunds we’ve recovered:
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$72K to cover DCAA-compliant accounting setup for a federal tech contract
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$68K to prepay subcontractors and materials on a GSA renovation
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$123K to invest in new hires and meet Davis-Bacon payroll standards for a federal job
They didn’t wait for help. They used Icarus Fund to unlock the cash already sitting in the tax system.
Your Refund Could Be Days Away from Recovery
At Icarus Fund, we believe you shouldn’t struggle with cash flow when the government already owes you money. If you’ve taken a loss and paid taxes in the past, you’re probably eligible for a substantial refund.
NOL carrybacks for small business owners aren’t just a strategy. They’re a financial lifeline—one that Icarus Fund exists to deliver.
✅ Ready to Recover Your Refund?
Here’s how to get started:
🚀 Step 1: Book a free 15-minute refund assessment with the Icarus Fund team. We’ll identify if you qualify and estimate your refund.
👉 Step 2: Download our Small Business NOL Refund Toolkit—complete with timelines, checklist, and refund examples.
👉 Step 3: Use your refund to fund your next government contract without loans, debt, or delay.
Let Icarus Fund help you turn your past loss into present-day funding. Don’t wait—the IRS won’t write you a check until you ask.
