Nol Carryback Rules For 2025 Taxes. Nols may now be carried forward indefinitely until the loss is fully recovered, but they are limited to 80% of the. A net operating loss (nol) or tax loss carryforward is a tax provision that allows firms to carry forward losses from prior years to offset future profits, and, therefore, lower future income taxes.

Loss carryback is the counterpart of loss carryforward. Individuals file a tentative refund claim on.