Problem
In each of the following cases, when does the statute of limitations expire? Why?
1) Frannie Smithe timely files her return on April 15, 2011, stating that her income is $60,000. Her actual income is $100,000.
2) Bob Unbanks has not filed a return for the past five years, because he does not believe the government is working for him.
3) A Taxpayers undergoing an audit signs a Form 872, Consent to Extend the time to assess income tax, and agrees to extend the period of limitations for another six month.
4) ZEEE Company carries back a net operating loss to its third prior tax year by filling an amended return for the carryback year.
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.