- 5 - existence and amount of any overpayment of tax when a taxpayer had not filed a return prior to the time the Commissioner mailed a statutory notice of deficiency. The law is clear that when a taxpayer failed to file a tax return or claim for refund prior to the time the notice of deficiency was mailed, the taxpayer's credit or refund generally is limited to those taxes paid within 2(...continued) imposed by this title in respect of which tax the taxpayer is required to file a return shall be filed by the taxpayer within 3 years from the time the return was filed or 2 years from the time the tax was paid, whichever of such periods expires the later, or if no return was filed by the taxpayer, within 2 years from the time the tax was paid. * * * (b) Limitation on Allowance of Credits and Refunds.-- (1) Filing of Claim Within Prescribed Period.--No credit or refund shall be allowed or made after the expiration of the period of limitation prescribed in subsection (a) for the filing of a claim for credit or refund, unless a claim for credit or refund is filed by the taxpayer within such period. (2) Limit on Amount of Credit or Refund.-- (A) Limit Where Claim Filed Within 3- Year Period.--If the claim was filed by the taxpayer during the 3-year period prescribed in subsection (a), the amount of the credit or refund shall not exceed the portion of the tax paid within the period, immediately preceding the filing of the claim, equal to 3 years plus the period of any extension of time for filing the return. * * * (B) Limit Where Claim Not Filed Within 3-Year Period.--If the claim was not filed within such 3-year period, the amount of the credit or refund shall not exceed the portion of the tax paid during the 2 years immediately preceding the filing of the claim.Page: Previous 1 2 3 4 5 6 7 Next
Last modified: May 25, 2011