Taxpayer Advocate Service: NTA Blog: Did You File a Superseding Return? If So, Read On (March 24, 2021)

The National Taxpayer Advocate Blog has published an article, titled “Did You File a Superseding Return? If So, Read On,” which discusses how taxpayers who have filed superseding returns may be affected by the look-back rule and the recent changes that the IRS has made to superseding returns. The abstract is as follows:

The statutory deadlines for the IRS to assess a tax liability and for a taxpayer to claim a refund are two of the most important time periods for taxpayers to consider. Once these periods have passed, the tax year, in most circumstances, is closed from both the IRS’s and taxpayer’s positions. Therefore, knowing the controlling date for when these will occur is critical. I urge taxpayers who filed superseding returns to pay close attention to how the IRS’s recent change regarding superseding returns affects these time periods for assessment and filing a refund claim, and how the look-back rule may impact your particular circumstances.

To view the full article, click here: “Did You File a Superseding Return? If So, Read On”

Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.

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