Skip to content
Warren AI
Sign in
Income Tax Planning
Chapter 2: Working With the Tax Law/STATUTE OF LIMITATIONS
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 2: Working With the Tax Law

STATUTE OF LIMITATIONS

01.Core Concepts

SATUTE OF LIMITATIONS General Statute of Limitations Under Section 6501 3 years Substantial Understatement of Income > 25% 6 years* Fraud None Collection of Deficiency by IRS 10 years Refund Claim by Taxpayer 3 years from date return is filed, or 2 years from date of payment (whichever is later) Collection of Erroneous Refund by IRS 2 years 5 years if induced by fraud * May include understatement of basis for capital transactions.