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Example 4: Assume the same facts as Example 3 (most prominently a requested extension to 10/15/02 for the year 01 return), but the taxpayer files his original 01 return on 7/1/02 (that is the actual date the IRS receives it and files the 01 return).
#NJ TAX REFUND STATUS 2013 FULL#
Under the first rule, the taxpayer will have until 10/15/05 to file a claim for refund and, under the second rule, he may recover the full refund because extension periods are added to the three year rule. Second, the amount he seeks to have refunded was paid beyond the three year period before the filing of the claim, as provided in the second rule.Įxample 3: Assume the same facts except that the taxpayer received an extension to file the Year 01 return and files the return on 10/15/02. First, he has not filed a claim for refund within the period provided in the first rule. Both of the rules would prohibit the IRS from granting the claim. Example 2: Assume the same facts, except for some reason, the taxpayer does not file the claim for refund until 6/01/05. He may file a timely claim for refund any time on or prior to 4/15/05 and receive a full refund. In January of Year 05, the taxpayer discovers he overpaid the Year 01 tax by $50. I provide the first four examples without the footnotes and then provide the fourth example with the footnote discussing ECC 201321022.Įxample 1: The taxpayer files his Year 01 tax return on 4/15/02 and pays the indicated tax of $100. I won't go through all of them now, but will address some that relate to a recent IRS internal guidance, ECC 201321022 (5/2/13), here. In my book, I use various examples to illustrate the application and interface of these limitations periods.
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The IRS may only refund the amount of tax paid within three years plus the period of any extension and, if the foregoing rule does not apply, then it may only refund the tax paid within two years of the date of the claim. The answer to that concern is in the second rule to which I now turn.\ Second, there is a statute of limitations on the amount of tax that can be refunded if the claim is timely under the first rule. I hope readers will instinctively say something must be missing here, for statutes of limitations do not normally allow such lengthy lapses before the claim must be pursued. Read literally, this means that a taxpayer can file a return 40 years late and qualify under this first rule. A claim for refund must be filed within three years from the time the return was filed or two years from the date the tax was paid, whichever is later, and, if no return is filed, within two years from the date of payment. First, there is a statute of limitations for filing the claim for refund. The rules are - as I tried to simplify them in my Tax Procedure book - as follows: Just as there are statutes of limitation on assessment and collection taxes, there are also statutes of limitation on taxpayers claiming tax refunds from the Government. The subsections implicated are (a) and (b)(2). The statutes of limitations on refunds are complex.