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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (677618)10/6/2012 9:12:14 PM
From: J_F_Shepard  Read Replies (1) of 1577789
 
Not quite so fast goober.....

There are several exceptions to this rule though. Sometimes this time period can be extended to 6 years and in certain circumstances there is no time limit for the IRS to audit a return. Below are these exceptions:
  1. Income was understated by 25% or more: If this is the case, the IRS can audit the return up to 6 years after the due date if they find that income was significantly under reported.
  2. The tax return was fraudulent: If the IRS determines that the tax return was file fraudulently then there is no time limit to them being able to audit the return. Filing a fraudulent tax return means that you filed the return in order to deceive the IRS. Many times there is a fine line between it being fraud and negligent. The IRS must prove fraud if they don’t believe it was filed negligently.


Read more: backtaxeshelp.com
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