The IRS reminds small businesses that the Fall filing deadline for taking advantage of the expanded business loss carryback option is coming up soon. Eligible individuals have until October 15th and eligible calendar-year corporations have until September 15th.
Under this option, losses from 2008 can be carried back for up to five years, instead of the usual three years, which could mean a special tax refund. For more information, visit: www.irs.gov/newsroom/article/0,,id=211964,00.html
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