You Have Up to Three Years After Mailing Your Tax

question 68

True/False

You have up to three years after mailing your tax return to file an amended tax return (1040X).

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Definitions:

Overdue Accounts

Financial accounts or receivables that have not been paid by the due date.

Receivables

Amounts owed to a company by its customers for goods or services provided on credit.

Net Float

The difference between checks written against a bank account and those that have been deposited but not yet cleared, affecting the balance.

Chequing Account

A bank account allowing the account holder to withdraw funds, write checks, and use electronic debit to access funds.