Mrs. Fugate failed to include $28,000 lottery winnings on a 2022 Form 1040. The only gross income reported was $78,000 salary. Mrs. Fugate filed the return on January 19, 2023. Required: a. What is the last date on which the IRS can assess additional tax for 2022? b. Assume Mrs. Fugate also reported $37,500 in dividend income. What is the last date on which the IRS can assess additional tax for 2022? Complete this question by entering your answers in the tabs below.
Mrs. Fugate failed to include $28,000 lottery winnings on a 2022 Form 1040. The only gross income reported was $78,000 salary. Mrs. Fugate filed the return on January 19, 2023. Required: a. What is the last date on which the IRS can assess additional tax for 2022? b. Assume Mrs. Fugate also reported $37,500 in dividend income. What is the last date on which the IRS can assess additional tax for 2022? Complete this question by entering your answers in the tabs below.
Chapter17: Tax Practice And Ethics
Section: Chapter Questions
Problem 23P
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Question
Transcribed Image Text:Mrs. Fugate failed to include $28,000 lottery winnings on a 2022 Form 1040. The only gross income
reported was $78,000 salary. Mrs. Fugate filed the return on January 19, 2023.
Required:
a. What is the last date on which the IRS can assess additional tax for 2022?
b. Assume Mrs. Fugate also reported $37,500 in dividend income. What is the last date on which the IRS
can assess additional tax for 2022?
Complete this question by entering your answers in the tabs below.
Required A Required B
What is the last date on which the IRS can assess additional tax for 2022?
Due date for assessment of additional tax is
Required A
5220
Required B
>
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