How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
23669918
Type Your Tax Question Here...
Megan C is online now
A new question is answered every 9 seconds

What is the Statute of Limitations with the IRS?

This answer was rated:

What is the Statute of Limitations with the IRS?

Megan C :

Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.

Megan C :

How are you today?

Megan C :

The statute of limitations for the IRS is 3 years, unless you have a 20% or more understatement of income

Megan C :

and then the statute is 6 years.

Customer:

Fine just needed to know what the Statute of limitations is with the IRS?

Megan C :

There is no statute of limitations if you do not file your tax return

Customer:

Filed underpaid in 2000.

Megan C :

So long as the underpayment was not related to fraud, then you are well past the statute of limitations

Customer:

Thank you. What is the Statue?

Megan C :

3 years generally, 6 years if you have more than 20% underpayment

Customer:

Thank you, XXXXX XXXXX good weekend.

Megan C :

You too If you would please rate my response as excellent

Megan C :

so that I may receive credit for assisting you today

Customer:

Already rated the contact as excellent.

Megan C :

You can rate using the feature along the bottom of the screen

Megan C and other Tax Specialists are ready to help you
Thanks, Arlene for your positive rating. Please come back and visit me any time you have a question that needs answered. It's a pleasure working with you today.