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    #1

    Statue of Limitation

    Client brought in copies of tax returns from 2004 to 2008. According to Uncle Sam he owes $26,000 which goes back to 2004 and 2005..
    Will the IRS accept amended reurns for the closed years to show reduced taxes?
    thanks
    brian
    Everybody should pay his income tax with a smile. I tried it, but they wanted cash
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    #2
    I believe it is closed for refunds but not for filing or amending.
    This post is for discussion purposes only and should be verified with other sources before actual use.

    Many times I post additional info on the post, Click on "message board" for updated content.

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      #3
      Yes they will. I have gone back for 6 years for clients. They will process the returns, but issue no refunds for closed years. I don't know for sure, but I would guess that if there were an NOL, that worked out to where you had a carry forward, it would help in the current years.

      LT
      Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".

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        #4
        The statute of limitations only applies to refunds and not to the filing of back tax returns or the payment of back taxes.

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          #5
          Originally posted by gkaiseril View Post
          The statute of limitations only applies to refunds and not to the filing of back tax returns or the payment of back taxes.
          Thanks Guys
          brian
          Everybody should pay his income tax with a smile. I tried it, but they wanted cash

          Comment

            #6
            Originally posted by Brian EA View Post
            Client brought in copies of tax returns from 2004 to 2008. According to Uncle Sam he owes $26,000 which goes back to 2004 and 2005..
            Will the IRS accept amended reurns for the closed years to show reduced taxes?
            thanks
            brian
            You can always amend. The statute applies to refunds. The amended returns will be audited also and then if not accepted as is by the Service negotiate.

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