Reprinted with permission from Tax Notes, December 2015

For as long as there has been a federal income tax, there have been time limits on its collection. Supreme Court Justice Robert H. Jackson explained in Rothensies v. Electric Storage Battery Co. that statutes of limitations in federal tax matters "promote justice by preventing surprises through the revival of claims that have been allowed to slumber until evidence has been lost, memories have faded, and witnesses have disappeared." Read More

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