The IRS has a statute of limitations during which it can review and address issues related to your taxes. After this period ends, the IRS is no longer able to impose taxes or collect extra amounts, nor can you request a tax refund. The exact duration of this time limit varies based on...
So if the taxpayer filed a return on May 1, 2024, then the IRS has until at least May 1, 2027 to assess any additional taxes.However, if the tax liability is more than 25% of the gross income reported on the return, then the statutory limitations is 6 years. However, the 6-year ...
The statute of limitations does not apply in the case of a false tax return or fraudulent tax return filed with the IRS with intent to evade any tax. Claiming Refunds.The three year statute cited above also applies to refunds. So let’s say you neglected to file your 2005 income tax ret...