mailed a $500 payment in with the return, which the IRS received with the return on...

 

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mailed a $500 payment in with the return, which the IRS received with the return on of $2,500 (consistent with the Form W-2 included with the return). Accordingly, he the return reflected a tax liability of $3,000 for Year 1, and wage withholding credits Sanjay negligently failed to mail his Year 1 return until May 10, Year 4. When filed, A. Assume that Sanjay failed to respond in any way to the notice of deficiency, May 13, Year 4. On April 1, Year 7, the IRS mailed Sanjay a notice of deficiency ih amount of $1,000 based on income Sanjay allegedly received but did not repor and the IRS assesses the $1,000 deficiency on July 15, Year 7. Is the assessment timely? B. Alternatively, assume instead that Sanjay responded to the notice by filing petition in the United States Tax Court on April 30, Year 7. He alleges never havine received the income referenced in the notice of deficiency. In addition, he allege that he is entitled to additional deductions entitling him to a refund of $700. Assuming that the Tax Court agrees with Sanjay on the merits, does the Tax Court have jurisdiction to order the IRS to award Sanjay a $700 refund? C. Do both the statute of limitations on assessment of a $1,000 deficiency for Sanjay's Year 1 tax year and the statute of limitations for Sanjay to claim a refund of $700 with respect to his Year I tax year expire on the same day? Is your answer affected by whether or not Sanjay petitions the Tax Court? mailed a $500 payment in with the return, which the IRS received with the return on of $2,500 (consistent with the Form W-2 included with the return). Accordingly, he the return reflected a tax liability of $3,000 for Year 1, and wage withholding credits Sanjay negligently failed to mail his Year 1 return until May 10, Year 4. When filed, A. Assume that Sanjay failed to respond in any way to the notice of deficiency, May 13, Year 4. On April 1, Year 7, the IRS mailed Sanjay a notice of deficiency ih amount of $1,000 based on income Sanjay allegedly received but did not repor and the IRS assesses the $1,000 deficiency on July 15, Year 7. Is the assessment timely? B. Alternatively, assume instead that Sanjay responded to the notice by filing petition in the United States Tax Court on April 30, Year 7. He alleges never havine received the income referenced in the notice of deficiency. In addition, he allege that he is entitled to additional deductions entitling him to a refund of $700. Assuming that the Tax Court agrees with Sanjay on the merits, does the Tax Court have jurisdiction to order the IRS to award Sanjay a $700 refund? C. Do both the statute of limitations on assessment of a $1,000 deficiency for Sanjay's Year 1 tax year and the statute of limitations for Sanjay to claim a refund of $700 with respect to his Year I tax year expire on the same day? Is your answer affected by whether or not Sanjay petitions the Tax Court?

Answer rating: 100% (QA)

A A be aware of deficiency is a prison willpower with the aid of using the IRS of a taxpayers tax deficiency It is an legitimate written declare that a taxpayer owes extra earnings tax and regularly h... View the full answer