Hi. My name is ***** ***** I will be happy to help you.Statute of limitation
is 3 years from the due date
or filing date of the return
, whichever is later. It means, IRS
has 3 years to review and/or assess additional tax. If there's more than 25% of unreported income
, the statute can be extended up to 6 years.
Statute of limitation for collection
is 10 years from the date of assessment (could be extended with pending offer in compromise, installment agreement
...). It means, once IRS determined that you owe additional tax, they have 10 years to collect. For example, if 2005 return was filed on or before April 15, 2006 (filed on time), and on March 20, 2009 (withing 3 years of filing) IRS assess additional tax, they have until March 20, 2019 to collect.
If the return was never filed, or if you intentionally file false or fraudulent, there's no statute of limitation.
If you had a business federally declared disaster area during the disaster, filing deadlines
are usually extended but you still have to file a return. If you lost your records, IRS will accept reasonably reconstructed records.
Let me know if you have any questions.