What is the Statute of Limitations?
Below is the definition of the Statute of Limitations
as well as information concerning the statute of
What is the definition of the statute of
A statute of limitations is a provision in the tax law that
offers a party a defense against a law suit brought by
another party after the expiration of a specified period of
What is the purpose of the statute of
The purpose of the statute of limitation is
to preclude parties from prosecuting stale claims. The passage
of time makes the defense of claims in the past difficult since
witnesses may no longer be available or evidence may have been
lost of destroyed.
What is the extent of the statute of
The statute of limitation is found at the
state and Federal levels and cover a wide range of suits both
civil and criminal.
What is the statute of limitations on
federal income tax?
The statute of limitations that deals
with federal income tax covers:
The period of limitations applicable to the
assessment of additional tax deficiencies by the
The period that deals with claims for refunds by