Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill

Exercise 13

Duane paid his 2010 federal income taxes in January 2013 in the amount of $10,000, and then paid $4,000 interest and penalties on this amount in May 2014. In April 2016, Duane filed a claim for refund of the $14,000, as a result of a sizable operating loss from his business in tax year 2015. Can he recover the 2010-related amounts