The IRS Now Has Six Years To Audit Your Taxes!

Forbes has an article Beware: IRS Now Has Six Years To Audit Your Taxes, Up From Three which discussed that no one wants to be audited, so knowing how long your tax return can be attacked is important.

The statute of limitations on taxes is a fundamental rule allowing taxpayers to eventually cut off their exposure. It can be pretty satisfying to say to the IRS, “sorry, you’re too late.” But this year, that will be a little harder due to an expansion of the IRS’s power to audit for extra years.

Six years can be a long time. Filing your return early won’t help either.

The time periods can be even longer than six years in some cases. The IRS has no time limit if you never file a return. For unfiled tax returns, criminal violations or fraud, though, the practical limit is usually six years.

Another scary rule is that the IRS can audit forever if you omit certain tax forms. Plus, once an assessment is made, the IRS collection statute is typically 10 years.

In some cases, the IRS can go back 30 years. In Beeler v. Commissioner, the Tax Court held Mr. Beeler responsible for 30 year-old payroll tax penalties. Click Here To Read More...

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