Statute of Limitations to File My Income Tax
In the United States, the statute of limitations of the Internal Revenue Code refers to the period when the Internal Revenue Service (IRS) may take action on your individual income tax return, typically Form 1040, U.S. Individual Income Tax Return. The type of action taken may relate to the individual's ability to claim a refund, the IRS' ability to assess an additional amount due or the IRS' ability to collect assessed taxes.
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General
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In general, an U.S. individual income tax return must be filed by three and one-half months after the end of the income tax year. For the vast majority of individuals, this is April 15. The IRS allows taxpayers to file for an automatic six-month extension that will generally extend the tax filing deadline to Oct. 15. The statute of limitations of the IRS generally begins on the later of the date the tax return was filed or was due to be filed.
Time Period to Claim Refund
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Taxpayers who have failed to file a U.S. individual income tax return generally have three years from the original due date of the return in which to do so. For example, a taxpayer due to file a 2009 income tax return by April 15, 2010 must do so before April 15, 2013. In many cases, taxpayers with limited taxable income may not meet the minimum income requirement that necessitate them to file a return. Many of these taxpayers will wish to file anyway to claim any income tax withholding or credits that may be refunded to them.
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Statute of Limitations on Assessments
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The IRS has a ten-year period during which it may collect an assessment of tax amounts due. In general, an assessment of tax amounts due will be done through a formal billing. The IRS cannot collect upon amounts billed more than 10 years after the date of that billing. Certain events may extend this 10-year period. This will typically either involve legal action or a formal agreement between the taxpayer and the IRS.
Statute of Limitations on Errors or Omissions
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When the taxpayer has made an error on his individual income tax return or inadvertently omitted a taxable item, the IRS typically has a three-year period in which it may assess the taxpayer an additional amount of tax due. In instances where the error or omission exceeds 25 percent of the reported gross income, the period is extended from three to six years. If the taxpayer amends the income tax return, the period is extended to three or six years from the date the amended return is filed.
Fraudulent Errors or Omissions
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The three- or six-year period under the statute of limitations applies only to inadvertent errors or omissions. Intentional errors or omissions are deemed to be fraud. Fraudulent errors or omissions are not covered by the Internal Revenue Code's statute of limitations. As a result, the IRS has an unlimited period of time during which it may assess additional taxes and penalties related to a fraudulently filed income tax return.
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