Should you extend the IRS Statute of Limitations in an Audit ?

2022-07-08 The IRS may ask the taxpayer to extend the statute of limitations on assessment of additional tax during a tax audit if the statute of limitations is about to run out. This is a complex situation, so consultation with an adviser is recommended. While the taxpayer may have a natural urge to decline the request, each taxpayer's facts and circumstances must be considered when deciding whether to agree to…

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