J.K. Lasser's Your Income Tax 2013: For Preparing Your 2012 Tax Return

48.2 When the IRS Can Assess Additional Taxes

Three-year statute of limitations.

The IRS has three years after the date on which your return is filed to assess additional taxes. When you file a return before the due date, however, the three-year period starts from the due date, generally April 15.

Where the due date of a return falls on a Saturday, Sunday, or legal holiday, the due date is postponed to the next business day.

EXAMPLES

1. You filed your 2012 return on February 8, 2013. The last day on which the IRS can make an assessment on your 2012 return is April 15, 2016.

2. You filed your 2010 return on May 17, 2011. The IRS has until May 19, 2014 (May 17 is a Saturday), to assess a deficiency.

- - - - - - - - - -

Caution

No Limitation Period for Fraud

There is no limitation on when tax may be assessed where a false or fraudulent return is filed with intent to evade tax, or where no return is filed.

- - - - - - - - - -

Amended returns.

If you file an amended return shortly before the three-year limitations period is about to expire and the return shows that you owe additional tax, the IRS has 60 days from the date it receives the return to assess the additional tax, even though the regular limitations period would expire before the 60-day period.

Six-year statute.

When you fail to report an item of gross income which is more than 25% of the gross income reported ...