What is the statute of limitations for IRS assessment of tax return with substantial understatement

date：2026-10-10 12:29:43 author：admin browse： time View comments Add Collection

What is the statute of limitations for IRS assessment of tax return with substantial understatement of income

What is the statute of limitations for IRS assessment of tax return with substantial understatement of income?

A. 3 years

B. 6 years

C. No limitation period for fraud

D. 1 year

Answer: B

Explanation: 6-year statute when understatement exceeds 25% of gross income.