Question

We discovered an error on our 2013 return that underreported our income. Since it is more than 3 years past the filing date, do we still need to file an amended return?

Forum|Forum|7 years ago
June 3, 2019
1 reply
0 views

No text available

Employee

The normal statute of limitations is 3 years from the filing deadline or 3 years from when you actually filed, whichever is later.

However, if the error resulted in a tax under-payment of more than 25%, the statute of limitations is 7 years, not 3 years. And if the IRS believes deliberate fraud was involved, there is no statute of limitations.

We can't give legal advice on your specific situation.

K

kvergasAuthor

Thank you. And would the date filed be the date we efiled our return (October 2014), or the date the IRS has on record as "submitted," which was their processing date of January 2015?