Steve files his return on April 1 and pays the entire amount of tax for the year at that time, $5,000. He is audited and pays the deficiency of $1,500 two years later. The maximum amount Steve may file a claim for refund for eighteen months later is

Question

Quizplus · Accepted Answer

Steve can file a claim for a refund of the deficiency amount he paid, which is $1,500, as it is the additional amount he paid after the audit.

Steve Files His Return on April 1 and Pays the Entire