I had a business loss last year. I also have a tax debt with IRS from 2016 which is in current installment payment agreement. Does my 2017 NOL carry back canceled out my 2016 tax debt? For example I had tax debt for 10,000 in 2016 and I had a loss in 2017 for the amount of $10,000. Filing a NOL carryback will cancel my tax debt as a form of tax credit? Thanks.
USA NOL Carry back
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