News & Analysis as of August 3, 2025

Statute of Limitations › Tax Audits

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Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -

The Statute of Limitations in an IRS Audit

Allen Barron, Inc. on 6/18/2025

Why is the statute of limitations such an essential factor in an IRS audit? Should you approve a request from the auditor for a waiver of the statute of limitations in an IRS audit? This is often a complex question, and if...more

What Are the Statute of Limitations on an IRS and California Tax Audit?

Allen Barron, Inc. on 11/9/2023

What are the statute of limitations on an IRS audit and a California tax audit? There is a time limit, known as the “statute of limitations“, when the IRS and/or California must complete an audit of your tax returns. It is...more

You Had Your Chance: New Jersey Tax Court Prohibits Audit Adjustments to Closed Years

Blank Rome LLP on 6/18/2021

The New Jersey Tax Court held that the Division of Taxation (“Taxation”) cannot assess tax in years open under the statute of limitations if the tax is attributable to the elimination of net operating loss (“NOL”)...more

The IRS Will Put the American People First — No, Really (But Only for a Limited Time)

Foster Garvey PC on 3/30/2020

Wednesday, March 25th, in the wake of the recent decision by the Internal Revenue Service (“IRS”) to extend the income tax filing and payment deadlines to July 15, 2020, it announced a new taxpayer-friendly program called the...more

IRS Announces New “People First Initiative” Suspending Many Important Federal Tax Compliance Dates and Certain Tax Collection...

Burr & Forman on 3/30/2020

March 25, 2020 – The IRS announced a major suspension of many “tax compliance” dates and tax collection measures. Published in IRS Information Release 2020-59 as the “People First Initiative”, the IRS announced that it is...more

Vultures Circling as Bill to Expand California FCA to Tax Looms in Legislature

McDermott Will & Emery on 8/27/2019

Legislators in Sacramento are mulling over one of the most (if not the most) troubling state and local tax bills of the past decade. AB 1270, introduced earlier this year and passed by the Assembly in late May, would amend...more

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