For omissions from gross income in excess of 25% of that reported, there is no statute of limitations on additional income tax assessments by the IRS.

Question

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The statute of limitations for the IRS to assess additional income tax if there is an omission of income in excess of 25% of the amount of gross income stated in the return is 6 years, not indefinite.

For Omissions from Gross Income in Excess of 25% of That