Mrs. Fugate, who is divorced, failed to include $28,000 alimony on her 2015 Form 1040. The only

Question:

Mrs. Fugate, who is divorced, failed to include $28,000 alimony on her 2015 Form 1040. The only gross income she reported was her $78,000 salary. She filed her return on January 19, 2016.
a. What is the last date on which the IRS can assess additional tax for 2015?
b. Would your answer change if Mrs. Fugate also reported $37,500 dividend income on her Form 1040?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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