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:

Regression Equation

A formula that expresses the linear relationship between independent and dependent variables.

Least-Squares Regression

A statistical method used to determine a line of best fit by minimizing the sum of squares of the distances of observed values from the predicted values.

Male Employees

Workers identified as male within an organization, relevant in discussions about gender diversity and employment policies.

Salary

The regular payment, often expressed as an annual sum, given to an employee by an employer in exchange for the employee's work.