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Discuss the concept of statutes of limitations

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Reference no: EM132891657

Question -

1. Discuss the concept of statutes of limitations in the context of the Federal income tax law.

2. Who benefits when the statute applies-the government, the taxpayer, or both?

3. What happens when the statute is scheduled to expire within two weeks but the IRS audit will not be completed by then?

Reference no: EM132891657

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