Mr.Hepp,a self-employed consultant,failed to include a $38,200 income item on his 2018 Form 1040,which he filed on March 9,2019.The gross income reported on the return was $102,380.What is the latest date that the IRS can assess any additional 2018 tax?

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The IRS generally has three years from the date a return is filed to assess additional tax. However, if the taxpayer omits more than 25% of their gross income, the statute of limitations extends to six years. In this case, Mr. Hepp omitted more than 25% of his gross income ($38,200 is more than 25% of $102,380), so the IRS has until six years from the due date of the return, which is April 15, 2025, to assess additional tax.

MrHepp,a Self-Employed Consultant,failed to Include a $38,200 Income Item on His