On April 3, 2013, Luis filed his 2012 income tax return, which showed a tax due of

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On April 3, 2013, Luis filed his 2012 income tax return, which showed a tax due of $75,000. On June 1, 2015, he filed an amended return for 2012 that showed an additional tax of $10,000. Luis paid the additional amount. On May 18, 2016, Luis filed a claim for a 2012 refund of $25,000.

a. If Luis’s claim for a refund is correct in amount, how much tax will he recover?

b. What is the period that government-paid interest runs with respect to Luis’s claim for a refund?

c. How would you have advised him differently?

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South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts

ISBN: 9781305399884

39th Edition

Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young

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Question Posted: Sep 09, 2015 07:10 AM

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On April 3, 2013, Luis filed his 2012 income tax return, which showed a tax due of

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a Only 10000 Because the refund claim was not filed within thre...View the full answer

South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts

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