Question

Regarding the statute of limitations on additional a5sessments of tax by the IRS, detennine the applicable period in each of the following situations. Assume a calendar year individual with no fraud or substantial omission involved.

a. The income tax return for 2017 was filed on February 19, 2018.

b. The income tax return for 2017 was filed on June 25, 2018.

c.The income tax return for 2017 was prepared on April 4, 2018, but was never filed. Through some misunderstanding bel\veen the preparer and the taxpayer, each expected the other to file the return.

d. The income tax return for 2017 was never filed because the taxpayer thought no additional tax was due.

Answer 1

Answer:

(a). The income tax return for 2017 was filed on February 19, 2018.

The state impediment would be 3 years after the documenting date or due date of the government form, the IRS can evaluate an extra assessment risk against the citizen inside 3 years.

(b). The income tax return for 2017 was filed on June 25, 2018.

The state confinement would be 3 years after the recording date or due date of the government form, the IRS can evaluate an extra duty obligation against the citizen inside 3 years. Despite the fact that, the recording date is April of the logbook and the citizen documented in June, the citizen would be documented an expense for recording late yet the rule of constraint is as yet the equivalent.

(c).The income tax return for 2017 was prepared on April 4, 2018, but was never filed. Through some misunderstanding between the preparer and the taxpayer, each expected the other to file the return.

There would be no legal time limit for this circumstance on the grounds that the assessment form was never documented; neglecting to record an expense form result into a punishment of 5% every month and up to 25 percent of the government form due.

(d). The income tax return for 2017 was never filed because the taxpayer thought no additional tax was due.

Again, there would be no legal time limit in light of the fact that the citizen never recorded while can set out to punishment, since the IRS has just piece of the data (where the citizen didn't document), the citizen is required to record the arrival so as to give all the data.