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Posted by Arthur Kamlet on July 7, 2009, 12:29 pm
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>"26 U.S.C. § 6511(a) - Claim for credit or refund of an
>overpayment of any tax imposed by this title in respect of
>which tax the taxpayer is required to file a return shall be
>filed by the taxpayer within 3 years from the time the
>return was filed or 2 years from the time the tax was paid,
>whichever of such periods expires the later, .
>
>If I read this correctly my brother just filed 6 years worth of income
>taxes this month.
>He was due a refund on overpaid taxes from 4, 5, and 6 years ago. The
>IRS agent
>told him he was not due those refunds because they were past 3 years
>from filing.
>
>Was the IRS agent mistaken
Nope.
The agent had read a couple of paragraphs more than you let on here.
Sec 6511(b)
b) Limitation on allowance of credits and refunds
(1) Filing of claim within prescribed period
No credit or refund shall be allowed or made after the expiration of the period
of limitation prescribed in subsection (a) for the filing of a claim for credit
or refund, unless a claim for credit or refund is filed by the taxpayer within
such period.
(2) Limit on amount of credit or refund
(A) Limit where claim filed within 3-year period
If the claim was filed by the taxpayer during the 3-year period prescribed in
subsection (a), the amount of the credit or refund shall not exceed the portion
of the tax paid within the period, immediately preceding the filing of the
claim, equal to 3 years plus the period of any extension of time for filing the
return. If the tax was required to be paid by means of a stamp, the amount of
the credit or refund shall not exceed the portion of the tax paid within the 3
years immediately preceding the filing of the claim.
(B) Limit where claim not filed within 3-year period
If the claim was not filed within such 3-year period, the amount of the credit
or refund shall not exceed the portion of the tax paid during the 2 years
immediately preceding the filing of the claim.
(C) Limit if no claim filed
If no claim was filed, the credit or refund shall not exceed the amount which
would be allowable under subparagraph (A) or (B), as the case may be, if claim
was filed on the date the credit or refund is allowed.
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
--
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