sorry 2018 NOL 5 year carryback (CARES ACT) had to be filed by 6/30/2020. did you file 2018 timely.
Deadline Extended for Filing Refund Claims for 2018 NOLs
To claim a refund of taxes for an NOL carryback, taxpayers file a single tentative refund claim that covers all carryback years, or an amended return for each carryback year. Individuals file a tentative refund claim on Form 1045, Application for Tentative Refund.
Many taxpayers prefer Form 1045 to process the refund request within 90 days. In addition, this form eliminates the burden of filing multiple amended returns to account for each carryback year if the NOL is not fully absorbed in the first carryback year.
so if you did not waive the carryback of the 2018, it would seem that now you can only carryback the NOL to 2016.
if you want to waive the carryback period but didn't originally the IRS has granted relief
Late Waivers of 2018 and 2019 NOL Carryback Period
A taxpayer generally must file an election to waive an NOL carryback period by the due date, including extensions, of the income tax return for the year in which the NOL arose (Code Sec. 172(b)(3)). However, the IRS allows taxpayers to file late waivers for NOLs arising in tax years beginning in 2018 or 2019. The election must be made by the due date, including extensions, for filing the income tax return for the first tax year ending after March 27, 2020.
Filing Deadlines for Forms 1045 An application for tentative refund is generally due no later than the last day of the tax year following the tax year in which the NOL arose. By the time the CARES Act was enacted on March 27, 2020, this deadline had expired for the 2018 tax year in the case of calendar year taxpayers.
The IRS, however, responded by extending the deadline for six months for NOLs that arose in a tax year that began during 2018 and ended on or before June 30, 2019. This means calendar year taxpayers only had until June 30, 2020 to file a tentative refund claim for the 2018 tax year. A taxpayer taking advantage of the six-month extension should write “Notice 2020-26, Extension of Time to File Application for Tentative Carryback Adjustment” on the top of their Form 1045.
baring the 5 year
