Latashia reports $100,000 of gross income on her 2016 tax return,filed on the April 15,2017 due date.She omits $30,000 of income,but the error was not fraudulent.When does the statute of limitations for examining her tax return expire?

Question

Quizplus · Accepted Answer

The statute of limitations for the IRS to examine a tax return where income is omitted but the error was not fraudulent is three years from the tax return due date, which in this case is April 15, 2020 (assuming no extensions were filed). Therefore, the statute of limitations expires on April 15, 2023.

Latashia Reports $100,000 of Gross Income on Her 2016 Tax