Statutes of Limitations – Taxpayer’s rights
Saturday, December 29th, 2007Statutes of Limitations – Taxpayer’s rights
Two perspectives-
From the government’s perspective, the statute of limitations restricts the taxpayer’s rights follows:
Claim a refund of overpaid tax
Initiate action to obtain a refund
From the taxpayer’s perspective, the statute of limitations restricts the IRS’s rights as follows:
From collecting a deficiency in tax
Asserting a civil or criminal case
In either case, the statute of limitations provides a date of finality after which actions may not be
