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    jmn43's Avatar
    jmn43 Posts: 5, Reputation: 1
    New Member
    		  
    #1

    Dec 29, 2007, 12:07 PM
    Statute of limitations
    Is there a statute of limitations for the government to audit your taxes.
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
    Uber Member
    		  
    #2

    Dec 29, 2007, 12:14 PM
    I believe it's 2 years.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Dec 29, 2007, 10:23 PM
    For assessment of tax you owe, this generally is 3 years from the date you filed the return or the due date of the return, which ever is later.

    If you did not report income that you should have reported on your return, and it is more than 25% of the income shown on the return, the period of limitations does not run out until 6 years after you filed the return.
    If a return is false or fraudulent with intent to evade tax, or if no return is filed, an action can generally be brought at any time.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Dec 30, 2007, 12:19 AM
    Agreed!
    kliem's Avatar
    kliem Posts: 18, Reputation: 1
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    #5

    Dec 30, 2007, 03:08 PM
    Concise and precise answer from MukatA.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #6

    Dec 30, 2007, 11:55 PM
    MukatA has that annoying habit of being both concise and precise! :-)
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