Statute of Limitations Refund credit

[cfsadvsr]

Can a taxpayer offset taxes owed on past due returns from 2001 and 2002, from a 2000 past due refund that's just been filed.

[Burke]

Nope. Statute of limitations on any refund is 3 years. If any refunds are due for open years, they will apply them to past taxes. Must be a refund from 2005, 2006, 2007 now.

[les grans]

According to wwwebtax.com, "Under section 6511(d)(1) of the Tax Code a taxpayer may file a claim within 7 years if the tax refund pertains to a bad debt under section 166 or 832(c) or in connection with a loss from a worthless security under section 165(g)."

Is there any chance any part of your overpayment from 2000 relates to a bad debt or a worthless security loss? Even if it does, I believe the seven year statute for such claims expires this year, on the anniversary of the due date of your 2000 tax return, including extensions if there were any.