Tax
May 9, 2012
Supreme Court holds that IRS must audit within three years
The High Court has limited the IRS' ability to extend the statute of limitations on audits.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Everyone wants to avoid a tax audit. If you can legitimately point to the statute of limitations to head off tax trouble and expense, you should. After all, if it is simply too late for the IRS to make a claim, you won't have to prove you were entitled to a deduction or need to find and produce receipts.
The IRS primarily monitors the normal three-year statute of limitations. However, the IRS does come after people outside this per...
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