Tuesday, August 10, 2010

Caselaw Update:

Assessment of taxes by the IRS may not be stopped by a statute of limitations (3 years) as would be the case in a normal income tax return filing if the filer files an erroneous tax return reporting no tax (i.e. is an invalid return) and the taxpayer formally rescinds the return. In re McKay (Mid. Dist. FL Bankruptcy 2010)