Question

Latoya filed her tax return on february 10th this year. when will the statute of limitations expire for this tax return if latoya understated her income by 40 percent?

Answer 1

The statute of limitations generally ends three years from the laterof (i) the date the tax return was actually filed (3 years from February 10th of this year) or (ii) the tax return’s original due date (3 years from April 15th of this year).Accordingly,Latoya’s statute of limitations for the tax return will end 3 years from April 15th.