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Note: Assume a calendar year individual with no fraud or substantial omissions involved. a. The income tax return for 2019 wa

December 31st, 2020, April 15th 2020, or March 3rd, 2020

b. The income tax return for 2019 was filed on August 13, 2020. • The statute of limitations will begin to run on

December 31st, 2020, August 13th 2020, or April 15th, 2020

C. The income tax return for 2019 was prepared on March 31, 2020, but was never filed. Through some misunderstanding betweenWill begin on December 31 2020, will begin on March 31, 2020, will begin on April 15th, 2020, or will not begin to run

d. The income tax return for 2019 was never filed because the taxpayer thought no additional tax was due. • The statute of liWill not begin to run, will begin to run April 15th, 2020, or will begin on December 31st, 2020

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Answer #1

The three-year statute of limitations is the period of time within which the IRS can audit your tax return filed by you and initiate legal proceedings, if required.

Ans.A. The income tax return for 2019 was filed on March 3,2020. The three-year statute of limitations will begin to run on April 15th,2020.

This is so because the due date for filing tax returns is April 15th. In case of tax return filed before that, the statute of limitations begins to run from April 15th and not from earlier date when tax return was filed.

Ans.B. The income tax return for 2019 was filed on August 13,2020. The statute of limitations will begin to run on August 13,2020.

In case of late filing of returns, the statute of limitations begins to run from the later date when the return is filed.

Ans.C.Since the tax return is not filed, the statute of limitations will not begin to run.

Ans.D. Since the tax return is not filed, the statute of limitations will not begin to run.

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