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What is the statute of limitations on state income tax or federal income tax or sales tax?
Wiki User
∙ 12y ago
First, there are many different SOLs, mainly ones for auditing the info, assesment of the tax and collection of the tax...as you see a progression that added together can be a long time.
Many States simply have none at all for many taxes...and may collect it at any time they can.
Depending on certain things, generally, the audit SOL is normally 3 or 4 years. However, a substantial underpayment, normally more than 25%, can extend that too. And how the days are counted can be a bit strange..but more importantly, that they can be "tolled" (stopped), by many things, most noteably from when the Dept sends a notice, received or not, until you respond for example. filing bankruotcy, leaving the country, many other things toll the SOL. So ignoring them and waiting for the time to run doesn't work.
Sales tax can be even a bit different, because those are trust funds that you hold for the State...the audit periods are normally more like 2 years to notify of an audit to see the proper things were taxed. But if it is a matter of your not payng over what you collected, then it is a criminal matter and a whole other set of rules may be invoked.
Importantly for many is to understand the SOL only starts to run when a return is filed. If you don't file, you are perpetually open and will never time out.
So ignoring them or avoiding them and notices or whatever, and waiting for the time to run doesn't work. Uh...it's been thought of by many before, over many years...do ya really think that's all there is to not paying?
what is the statute of limitations on Virginia state taxes?
Wiki User
∙ 12y ago
Statute of limitations for state income tax varies by state, typically ranging from 3 to 6 years. For federal income tax, the statute of limitations is generally 3 years, extended to 6 years if income is underreported by more than 25%, and no limit if there is fraud. Sales tax statute of limitations varies by state, usually around 3 to 4 years.
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What is the statute of limitations on delinquent sales tax in Louisiana?
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What taxes do residents of Indian reservations pay?
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Which of the following is an example of a tax collected by the state of Georgia?
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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?
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What is the statute of limitations for PA sales tax liability?
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What is the statute of limitations on delinquent sales tax in Louisiana?
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Statute of limitations on Indiana unpaid sales tax?
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What are Wyoming's laws and statutes regarding felonies and car sales?
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How many years is statute of limitations for sale of goods?
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Statute of limitations on sales tax filing in Michigan?
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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.
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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?
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