Walter Did Not File His 2016 Tax Return That Was

question 15

Essay

Walter did not file his 2016 tax return that was due April 15, 2017 until June 2, 2017.
a. When does the statute of limitations expire for this return assuming he did not file for an automatic extension?
b. When does the statute of limitations expire if Walter forgot to report a land sale that occurred on January 10, 2017? He had a $20,000 gain on the transaction and he reported gross income for 2017 of $75,000?
c. When does the statute of limitations expire if Walter deliberately omitted the $20,000 gain on the land sale?

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Definitions:

High-involvement Work Practice

Business strategies which empower employees by involving them in decision-making processes and ensuring they have the necessary skills and information to effectively contribute to the company's success.

Daily Hassle

Minor everyday problems or annoyances that, while not severe, can add up to significant stress over time.

Presenteeism

The act of attending work while sick, which can lead to decreased productivity and health of coworkers.

Chronic Stressor

A persistent stress factor that continuously affects an individual, potentially leading to long-term health problems and decreased well-being.