Eduardo filed his 2016 tax return on March 15, 2017. Eduardo accidentally omitted $10,000 of income from his individual tax return. The total gross income shown on the tax return was $35,000. When will the statute of limitations expire for Eduardo's 2016 tax return?

Question

Quizplus · Accepted Answer

$10,000/$35,000 = 28.6% omitted so the statute of limitations is increased to 6 years

Eduardo Filed His 2016 Tax Return on March 15, 2017