Indicate the Date That the Statute of Limitations Would Run

question 35

Essay

Indicate the date that the statute of limitations would run out on the following situations:
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a. The IRS assesses additional taxes for a 2012 tax return audit on May 5, 2014. How long does the IRS have to collect the tax?
b. On April 1, 2014, the IRS asks for and the taxpayer agrees to an additional year to complete an audit for a 2010 tax return which was filed on March 9, 2011.
c. Jeremy reported $10,000 of worthless debt on his 2013 tax return which he filed on August 3, 2014.
d. Jenny files her 2014 tax return on February 25, 2015.
e. James omits 7 percent of his income on his 2012 tax return which he filed on July 12, 2013.

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Definitions:

Body Fat

The portion of the human body that consists of adipose tissue, serving as energy storage and insulation.

Isotonic Exercise

Exercise that requires the contraction of muscles and the movement of joints, as in weight lifting.

Muscle Endurance

The ability of a muscle or muscle group to repeatedly exert force against resistance over an extended period.

Cardiovascular Fitness

The ability of the heart, blood cells, and lungs to supply oxygen-rich blood to working muscle tissues and the ability of those tissues to use oxygen to produce energy for movement.