Under federal law, there are 2 types of statutes of limitations that apply to taxes: assessment of tax deficiencies by the IRS and the duration when the taxpayer can claim a refund.Generally, an assessment by the IRS must be within 3 years of the later of the due date of the income ...
statute of limitations n.pl.statutes of limitations A legal restriction, as by law or court decision, on the time that is allowed to elapse between the arising of a legal claim and the filing of a suit based on such legal claim.
The article discusses the court case American Airlines, Inc. v. Illinois Department of Revenue filed at the Illinois Court of Appeals on December 18, 2009 wherein American Airlines sought a second refund claim on grounds of tax exemption.EBSCO_bspSales...
Take medical malpractice claims as an example: the statute of limitations varies from one to four years across different states. In Texas, for example, individuals have a maximum of two years to file a claim for damages incurred.2Additionally, Texas law mandates that any health care liability c...
MERTON, STATUTE OF. A statute so called, because the parliament or rather council, which enacted it, sat at Merton, in Surrey. It was made the 20 Hen. III. A. D. 1236. See Barr. an the Stat. 41. YORK, STATUTE OF. The name of an English statute, passed 12 Edw. II., Anno ...
Related to statute:Statute of frauds Graphic Thesaurus🔍 DisplayON AnimationON Legend Synonym Antonym Related </>embed</> edict enactment ordinance decree regulation rule act law statute all noun adj Synonyms for statute Collins Roget's WordNet ...
statute of limitations n.pl.statutes of limitations A legal restriction, as by law or court decision, on the time that is allowed to elapse between the arising of a legal claim and the filing of a suit based on such legal claim.
Statute of LimitationsTaxIndividual taxpayers frequently realize that a tax return filed with the IRS needs to be changed for various reasons. Perhaps previously estimated amounts are later discovered to have been in error, prior ignorance may have been rectified, or new interpretations of law have...
statute of limitations6511(d)(2)(AThe author begins by describing the general rules governing refund claims in order to provide necessary background information. He then explores the possibility that the intricacies of the Internal Revenue Code my allow a claim of refund, based on a "net ...