In March 2017, Jim asks you to prepare his Federal income tax returns for tax years 2014,
Question:
In March 2017, Jim asks you to prepare his Federal income tax returns for tax years 2014, 2015, and 2016. In discussing this matter with him, you discover that he also has not filed for tax year 2013. When you mention this fact, Jim tells you that the statute of limitations precludes the IRS from taking any action as to this year.
a. Is Jim correct about the application of the statute of limitations? Why or why not?
b. If Jim refuses to file for 2013, should you prepare returns for 2014 through 2016? Explain.
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a No Because no return was filed the statute of limitations never runs But even if a return had ...View the full answer
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Related Book For 
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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