If you’re trying to stabilize cash flow with NOL carrybacks, you’re already thinking like a smart operator. Most business owners—especially those who’ve just landed a government contract—are focused on scaling fast but forget that growth eats cash. At Icarus Fund, we’ve seen companies win multi-million-dollar contracts and still find themselves scrambling to cover payroll. Why? Because they didn’t tap into one of the most powerful cash flow tools available: the NOL carryback.
Government Contract in Hand, But Cash Flow Crunch Is Real
Winning a government contract sounds like a win—and it is. But delivering on that contract means you need to pay workers, buy materials, and manage overhead before the government pays you.
A business owner we worked with—let’s call him Marcus—landed a $1.8 million federal renovation job. Huge deal. But two weeks later, he was out of pocket and on the brink of missing payroll. Fortunately, Marcus had a $400,000 NOL from two years ago. We stepped in, filed a carryback claim, and within 60 days, he had $130,000 refunded directly to his account. That refund allowed him to finish phase one of the contract without taking on high-interest debt.
How to Stabilize Cash Flow with NOL Carrybacks
Step 1 – Identify Your Business Losses
The first move is figuring out where your NOLs are hiding. These are business expenses that outweighed your income in prior years—think salaries, materials, rent, and equipment costs.
Step 2 – Match Losses with Profitable Years
Next, we look for profitable years where you paid taxes. Depending on the timeframe, you may be able to carry back the loss up to five years. Icarus Fund helps you pinpoint the most strategic years to maximize your refund.
Step 3 – File Fast and Correctly
Using IRS Form 1139 or 1045, we file the carryback claim. When done correctly, your refund can hit in as little as 45–60 days. Icarus Fund handles the process end-to-end so you can focus on executing your contract—not chasing tax forms.
Why NOL Carrybacks Are Your Fastest Path to Capital
While other businesses are busy applying for slow-moving bank loans or waiting 90 days to get paid by the government, you can stabilize cash flow with NOL carrybacks and self-fund your growth. This is your fast lane to liquidity, and it doesn’t involve selling equity or stacking more debt.
Here’s what it looks like in action:
Use your refund to pay vendors and staff.
Eliminate stress when mobilizing for your contract.
Avoid waiting on government reimbursement cycles.
This is how real operators stay in control.
Why Icarus Fund Is the Go-To Partner for NOL Carrybacks
At Icarus Fund, we specialize in helping companies convert past losses into immediate cash—without red tape, slow banks, or guesswork. We understand the unique cash flow challenges that come with government contracts and use NOL carrybacks as a strategic tool to unlock the capital you need.
We don’t just help you stabilize—we help you scale. Our team ensures your refund hits fast and gets reinvested where it matters most: in fulfilling your contract and growing your bottom line.
FAQs About NOL Carrybacks
Can I still carry back a loss from last year?
Yes. Even if you’ve filed your taxes already, you can amend returns and file carryback claims for qualified years.
How long does it take to receive the refund?
Typically, 45 to 90 days after filing the claim. Icarus Fund prioritizes speed and accuracy to shorten this timeline wherever possible.
What do I need to get started?
A clear view of your financials, a history of prior tax filings, and a government contract you’re working to fulfill. We’ll take it from there.
Your Past Losses Could Be Today’s Cash
Most people don’t realize it, but the IRS is sitting on a refund check that belongs to you. If you had a loss in the last few years and now you’re trying to fulfill a government contract, there’s zero reason to delay. NOL carrybacks let you stabilize your cash flow without taking on unnecessary debt or burning through your reserves.
🔥 Call to Action
Don’t wait for the IRS to hold your money any longer.
At Icarus Fund, we help you stabilize cash flow with NOL carrybacks so you can focus on what matters—delivering your contract and growing your business.
👉 Contact Icarus Fund today and let us unlock the cash your business needs to win, grow, and dominate.
