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Joanne filed her Year 1 tax return on April 1, year 2. She owed $500,...

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Accounting

Joanne filed her Year 1 tax return on April 1, year 2. She owed $500, which she mailed with her return. The rest of her tax liability, $7,000, was covered by withholding. After examining her return a few months later, she realized that she made an error that may entitle her to a refund of $1,000.

A.) How can Joanne claim a refund of the $1,000?

B.) When is the last day she can claim a refund?

C.) How, if at all, would your answer to Part B change if Joanne had filed her return on April 15, Year 2 instead?

D.) How, if at all, would your answer to Part B change if Joanne had granted the IRS a one-year extension of the statute of limitations on assessment with respect to Year 1?

E.) Assume that Joanne filed a timely refund claim on July 8, Year 3.

i.) If the IRS never responds to her claim, when is the first day she can file a refund suit? When is the last day?

ii.) Assume the IRS denied Joannes refund claim on January 3, Year 4. When is the first day she can file a refund suit? When is the last day?

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