Can a Taxpayer Start the 3-Year Statute of Limitations on Additional

question 165

Essay

Can a taxpayer start the 3-year statute of limitations on additional assessments by the IRS by filing his income tax return early (i.e., before the due date)? Can the period be shortened by filing late (i.e., after the due date)?

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Definitions:

Antennae Division

The Antennae Division could denote a specialized segment within a company focused on the development, production, or distribution of antennae and related technologies; however, without context, its specific definition may vary.

Transfer Price

The price at which goods and services are sold between divisions within the same company or among affiliated companies.

Contribution Margin

The amount by which a product's sales revenue exceeds its variable costs, indicating how much contributes to covering fixed costs and generating profit.

Production Capacity

The maximum amount of goods or services that can be produced in a given period under normal working conditions.