What are the legal statutes of limitation, if any, for filing a corrected federal tax return? If open ended, could that mean all previously filed returns by someone engaged in private sector activities are fair game?
A. First, understand that the phrase “corrected return” is likely to contribute to poor communication, or fuzzy thinking. To clarify: The first return filed by the individual with whom it is concerned is an “original return”, no matter how late it is filed. Any subsequent return filed concerning the same period is an “amended return”, not a “corrected return”. (However, if the “original return” filed was actually invalid– as opposed to merely declared “frivolous” in the sort of IRS ploy discussed here– the filing will be considered a legal nullity, meaning that the return will not be considered to have ever been filed at all. In such cases, the first subsequent return filed by the same individual will then be the “original return”– and should be done on an “original return” form… See the discussion of Schiff- and “861”-style returns elsewhere on this page for examples of actual invalid filings. In the same vein, it will be important for many to understand that a nominal “Substitut
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