tag:blogger.com,1999:blog-18805596.post-55180355312641190212007-06-27T14:11:00.000-06:002007-06-27T14:22:37.913-06:00In general, except in cases of fraud or substantial understatements of income, the IRS can only assess tax within three years after a return was filed (or, if later, three years after the return was due). However, the problem with the three-year rule is that the assessment period is extended to six years if more than 25% of gross income is omitted from a return. Therefore, we recommend retaining your tax records for six years after the return was filed.All of us at TRKMhttp://www.blogger.com/profile/14182597208750233114noreply@blogger.com