On November 6, 2009, President Obama signed into law the Worker, Homeownership, and Business Assistance Act of 2009 (H.R. 3548) , extending and enhancing a popular but temporary tax incentive — the five-year net operating loss (NOL) carryback provisions . Under the new law, the expanded five-year NOL carryback, which was originally available to qualifying small businesses for their years beginning in 2008, has been extended and enhanced to include 2009 NOLs for nearly all businesses, regardless of size. Qualifying small businesses that utilized the five-year carryback provisions for their 2008 tax year may also take advantage of the five-year carryback provisions for 2009. The availability of quick refunds from 2008 and 2009 NOL five-year. Read More.