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What is the statute of limitations on state income tax federal income tax and sales tax?
Wiki User
∙ 13y ago
That should be a simple question, but it's not quite that easy. First, on federal, when it comes to getting a refund, you have three years from the date the return as due. So lets say you didn't file your 2006 and 2007 taxes, it would be too late now to get your 2006 refund, but you could still file your 2007.
But what if you owe money? Then the statute of limitations is 7 years. So you can only get a refund for three, but can still owe for seven. But--and this is important, if the IRS has tried to contact you or if there are extenuating circumstances, they can go back further. I'm an enrolled agent and had to go back 10 years for a client because of "exceptions" to the seven year rule.
States generally follow federal rules, but not always. Also, states often can't even begin to process their audits until they hear from the federal government so it's rare that a state issue will be cleared up before a federal one.
Sales tax issues also vary by state but your time limit is much shorter. Also, the penalties can include putting you out of business.
Wiki User
∙ 13y ago
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What is the statute of limitations for PA sales tax liability?
Only the IRS has a 10 year statute of limitations. PA has no statute of limitations on collecting owed taxes of any kind, so they will persist coming after you for as long as they can.
Can you deduct the amount you pay your tax account?
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
Is Gas sales tax deductible?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
Are income tax payments deductible?
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
How do you calculate sales from net income percentage?
Sales can be calculated by using net income percentage because net income is always reported as a percentage of sales. For exmaple net income of 20 is a 20% of sales so sales will be as follows: 20% sales = net income Sales = Net income / 20 * 100 Sales = 20 /20 * 100 = 100 So Sales = 100
Is there a statute of limitations for unpaid cigarette taxes in NJ if they were not purchased on the Internet?
is there a statute of limitations on sales tax in NJ for cigarette purchases
How lon is the statute of limitations in Georgia for possession and sales of marijauna?
if they already have a warrant for your arrest there is no statute of limitations. SoL does not account for a warrant
What is the statute of limitations for PA sales tax liability?
Only the IRS has a 10 year statute of limitations. PA has no statute of limitations on collecting owed taxes of any kind, so they will persist coming after you for as long as they can.
What is the statute of limitations on delinquent sales tax in Louisiana?
This is probably not what you want, but the tax in Louisiana is 9% of what you pay.
Statute of limitations on Indiana unpaid sales tax?
The statute of limitations for taxes in Indiana is 3 years after the tax was due or after the return was filed, whichever is later. So for instance if you have a tax return due April 15, 2005 and the return is filed February 1, 2005 the statue of limitations is April 15, 2008. If the return was filed on June 15, 2005 with the same due date, the statue of limitations would run out on June 15, 2008.
What are Wyoming's laws and statutes regarding felonies and car sales?
Wyoming's statute of limitations are very basic and simple. They have decided that no statute of limitations shall apply to any criminal prosecution. So there is no limit to when charges can be brought.
How many years is statute of limitations for sale of goods?
Sales of goods are not subject to any sort of statute of limitations. A law suit due to defective goods will be limited by the jurisdiction's limits, which can be anything from a year to ten years.
Statute of limitations on sales tax filing in Michigan?
6 years from the letter of intent to levy; however arbitrary by the department of treasury.
Can you deduct the amount you pay your tax account?
I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
Is there a statute of limitations on delinquient sales tax in Oklahoma?
There is not a limit in Oklahoma. Most jurisdictions do not pass laws that limit their ability to collect taxes.
Is there a statute of limitations on back state taxes?
The Oklahoma Tax Commission says, "No." I'm still trying to find an answer in the tax code or in a judgment. 3 years for sales and use (effectively). OAC 710:65-3-32. 3 years for income. OAC 710:50-5-12.
Are traditional IRA's tax deferred?
federal income taxes on sales of traditional ira's
