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IRS Extending the Tax Assessment Period  Your Available Options (Part IV)  When asked to sign the consent extending the statutory period, you have three options with rights and alternatives for each. You have the right to:  · Refuse to sign the consent – Certain employment taxes and certain miscellaneous excise taxes. If you choose not…

IRS Extending the Tax Assessment Period  Your Available Options (Part III)  When asked to sign the consent extending the statutory period, you have three options with rights and alternatives for each. You have the right to:  · Refuse to sign the consent –Taxes other than certain employment taxes and certain miscellaneous excise taxes. (cont)  If…

IRS Extending the Tax Assessment Period  Your Available Options (Part II)  When asked to sign the consent extending the statutory period, you have three options with rights and alternatives for each. You have the right to:  · Refuse to sign the consent –Taxes other than certain employment taxes and certain miscellaneous excise taxes. If you…

IRS Extending the Tax Assessment Period Your Available Options  (Part I) When asked to sign the consent extending the statutory period, you have three options with rights and alternatives for each. You have the right to: Sign an unconditional consent (a fixed-date or open-ended consent that does not limit the examination or appeal activities to…

IRS Extending the Tax Assessment Period Restricted Consents  (Part II) A restricted consent is used to allow the assessment statute to expire on the normal or previously extended statute expiration date with regard to items on the return except those covered by the restrictive language. The consent should be prepared by the Service, and not…

IRS Extending the Tax Assessment Period Restricted Consents  (Part I) In addition to extending the length of the assessment statutory period, consent agreements may also limit further examination or appeal activities to specific tax issues. These agreements are called “restricted consents” and have either a fixed or open-ended date of expiration. It is the Service’s…

IRS Extending the Tax Assessment Period  Length of Extension (Part II)  In an open-ended consent, the extension period generally remains open until 90 days after either the taxpayer or the Service sends the prescribed notice ending the agreement. The procedures for using this consent are set forth in Revenue Procedure 79-22, 1979-1 C.B. 563, which…

IRS Extending the Tax Assessment Period  Length of Extension (Part I)  The Service’s examiners will request an extension period no longer than is necessary to complete the examination and any administrative action necessary to process your case. As stated above, the Service uses two kinds of consents to accomplish this, a “fixed-date” and an “open-ended”…

IRS Extending the Tax Assessment Period  Background (Part II)  Because of these restrictions, the Service identifies tax returns under examination for which the statutory period for assessment is about to expire and requests that you extend the assessment statute of limitations. This additional time allows you to provide further documentation to support your position, request…

IRS Extending the Tax Assessment Period  Background (Part 1)  The Internal Revenue Service (Service) makes every effort to examine tax returns as soon as possible after they are filed. To ensure timely tax examinations, Congress has set deadlines for assessing taxes and making refunds or credit of tax. These deadlines are called “statutes of limitations.”…