New client is in a financial mess. Purchased a charitable annuity in 2003 which is being investigated w/ Dept of Financial Institutions. Lawyer sent letter which states:
"Finally, because the annuity was purchased in 2003, you would still be within the four-year time frame to amend your 2003 tax returns to take a charitable deduction."
Earlier in the season I told him three years to file a claim for a refund, so this AM he brought the letter from the lawyer and it indeed advises four years.
Am I counting wrong? Or would there be an exception to the three year period?
"Finally, because the annuity was purchased in 2003, you would still be within the four-year time frame to amend your 2003 tax returns to take a charitable deduction."
Earlier in the season I told him three years to file a claim for a refund, so this AM he brought the letter from the lawyer and it indeed advises four years.
Am I counting wrong? Or would there be an exception to the three year period?
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