Qualifying ESB individuals: IRS deadline for filing special refund claims is Oct. 15

According to the IRS Web site: “Time is running out for many small businesses wishing to take advantage of the expanded business loss carryback option included in this year’s recovery law, the Internal Revenue Service said today. Eligible individuals have until Oct. 15 to choose this expanded carryback option.

“This carryback provision offers small businesses that lost money in 2008 an excellent way to quickly get some much needed cash if they were profitable in previous years. This option is only available for a limited time, so small businesses should consider it carefully and act before it’s too late.”

Most small business individuals, should they qualify, have time to choose the special carryback option and get a refund. Qualifying eligible small business (ESB) individuals (such as a qualifying sole proprietor) have until Oct. 15, 2009, to file a claim.

To learn more, read, “For Many Small Businesses, Fall Filing Deadline Looms for Special Refund Claims,” at http://www.irs.gov 


News alert dated Oct. 3, 2009

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