In march 2018, Jim asks you to prepare his federal income tax returns for tax years 2015,2016

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In march 2018, Jim asks you to prepare his federal income tax returns for tax years 2015,2016 , and 2017. In discussing this matter with him, you discover that he also has not filed for tax year 2014. 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 2014, should you prepare returns for 2015 through 2017? Explain.

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South-Western Federal Taxation 2019 Comprehensive

ISBN: 9781337703017

42th Edition

Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young

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Question Posted: May 30, 2019 11:23 AM

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In march 2018, Jim asks you to prepare his federal income tax returns for tax years 2015,2016

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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

South-Western Federal Taxation 2019 Comprehensive

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