Jimmy Purposely Omitted from His 2019 Tax Return $40,000 of the Gross

question 61

Multiple Choice

Jimmy purposely omitted from his 2019 tax return $40,000 of the gross receipts that he collected as the owner of a restaurant. His 2019 return indicated collective gross receipts of $200,000. The IRS nolonger can pursue Jimmy with the threat of collection of the related tax, interest, and penalties, as of April 15 of what year?

• A)2022
• B)2025
• C)2027
• D)2028
• E)There is noexpiration date for the statute of limitations in this context.

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Definitions:

Spy Case

An incident or series of events involving espionage, where individuals are accused or convicted of spying on behalf of a foreign government.

White Supremacists

Individuals or groups who believe that white people are superior to those of all other races and should therefore dominate society.

Interracial Society

A community or society that is made up of people from a variety of racial and ethnic backgrounds.

Apartheid Regime

The system of institutionalized racial segregation and discrimination in South Africa between 1948 and the early 1990s, designed to keep the white minority in power over the black majority.