SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?


To: DMaA who wrote (248567)5/2/2008 3:39:32 PM
From: alanrs  Read Replies (2) | Respond to of 793917
 
Can the IRS go back 5 years for an audit?

7 years.

ARS



To: DMaA who wrote (248567)5/2/2008 4:06:51 PM
From: LindyBill  Read Replies (1) | Respond to of 793917
 
Can the IRS go back 5 years for an audit?

Yes. Normally they won't unless they have a record of bad returns since then.



To: DMaA who wrote (248567)5/2/2008 4:51:06 PM
From: Logain Ablar  Read Replies (1) | Respond to of 793917
 
The statute of limitations starts on the date the return is filed. If a return was not filed the statue of limitation is effectively open ended.

Typically the IRS will go back up to 3 years but if fraud is involved they can go back 7.

If its unreported revenue (which is specifically defined as fraud) I believe they can also go back unlimited.



To: DMaA who wrote (248567)5/2/2008 6:10:00 PM
From: Ish  Respond to of 793917
 
<<Can the IRS go back 5 years for an audit?>>

They can go back forever if they suspect fraud.



To: DMaA who wrote (248567)5/3/2008 10:19:23 AM
From: Alan Smithee  Read Replies (2) | Respond to of 793917
 
Can the IRS go back 5 years for an audit?

If no returns were filed, there is no statute of limitations.