(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 subsequent years, chiefly in order to ease the tax burden.
GOOSES. GEESES. I WANT THIS QUIZ ON PLURAL NOUNS!
Test how much you really know about regular and irregular plural nouns with this quiz.
Question 1 of 9
Which of the following nouns has an irregular plural form?
accountingto transfer (a balance) to the next page, column, etc
Also called (in Britain and certain other countries): carry overtax accountingto apply (a legally permitted credit, esp an operating loss) to the taxable income of following years to ease the overall tax burden
Also called: carry-overtax accountingan amount carried forward
Also, carry over. Transfer a bookkeeping entry to the next column, page, another account, or the next accounting period, as in Let's carry forward this loss to the next quarter for a saving in taxes, or She made an error in carrying over this column. The first term dates from the first half of the 1800s; the variant dates from the mid-1700s.
Make progress in, advance, as in His successor hoped to carry forward his work. Also see carry on.