(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).
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British Dictionary definitions for carry back
(tr, adverb) to apply (a legally permitted credit, esp an operating loss) to the taxable income of previous years in order to ease the overall tax burden
an amount carried back
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012