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7 Cycling Words

carryback

[kar-ee-bak] /ˈkær iˌbæk/
noun
1.
(in U.S. income-tax law) a special provision allowing part of a net loss or of an unused credit in a given year to be apportioned over one or two preceding years, chiefly in order to ease the tax burden.
Compare carry·forward (def 2).
Origin of carryback
1940-1945
1940-45; noun use of verb phrase carry back
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2016.
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