Re: Should we even file our taxes?
if you do not file your tax return the statute of limitations never runs out. if you file a return and under report your income by more than 25%, the statute is 7 years from the later of the due date of the return or the date you filed whichever is later. if you file a return and the above is avoided then the statute is 3 years from the later of the due date of the return or the date you filed whichever is later. If you file a fraudulent tax return the statute never runs out.
Namaste'
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