Annie files her 2020 tax return on April 15, 2021. On what date will the Statute of Limitations on Assessment expire? O April 15, 2022 O April 15, 2023 O April 15, 2024 O April 15, 2027
Annie files her 2020 tax return on April 15, 2021. On what date will the Statute of Limitations on Assessment expire? O April 15, 2022 O April 15, 2023 O April 15, 2024 O April 15, 2027
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Annie files her 2020 tax return on April 15, 2021. On what date will the Statute of
Limitations on Assessment expire?
O April 15, 2022
April 15, 2023
April 15, 2024
O April 15, 2027](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F02d19c68-5eba-4c42-aa0f-0981c4534503%2Feb6a5ed7-957e-45b7-90fd-7cd1f32fac66%2Fokh2jxv_processed.png&w=3840&q=75)
Transcribed Image Text:Annie files her 2020 tax return on April 15, 2021. On what date will the Statute of
Limitations on Assessment expire?
O April 15, 2022
April 15, 2023
April 15, 2024
O April 15, 2027
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
Step 1 Statute of Limitations on Assessment
- As per Internal Revenue Service, If tax return due on April 15 if it files such return early or exact date or which is extended till Oct 15th.
- Therefore, statute of limitation on Assessment will expire from the date of return filing till 3 Years after date will be considered.
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