I am not saying Trump did anything untowards tax wise but....I think the statute of limitations on tax fraud is only 3 years.
I am not saying Trump did anything untowards tax wise but....I think the statute of limitations on tax fraud is only 3 years.
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On some issues it is 6 years. And there is no doubt that Trump’s operations would be complex enough to have those kinds of 6-year items involved.
Additionally, real estate has long-lived assets that appear over multiple years’ returns, such as a 30-year depreciation schedule. So a discrepancy on an item that began being depreciated in 1990 would still be around on the tax returns until 2020. That can give IRS the predicate to go back the 30 years and review the return when that item was first placed in service, since it affects returns now in the recent 6-year window.
I believe there is no statute of limitations on Tax fraud.