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SOL Application

Technical topics regarding tax preparation.
#1
Posts:
18
Joined:
11-Jul-2017 12:36pm
Location:
Miami
Good morning. I am confused on the the three year SOL. I have worked cases going back to 2007 who have been adjusted, OIC for old balances, and form 843 for old trust fund where no 1153 issued. However, how does the SOL states that no credit or refund is applicable after 3 years? Arent these actions taken a credit to the account?
Alan Goldstein & Associates
PO BOX 772166
Miami, FL 33177
305-592-2476
http://www.employeeclassification.com
http://www.taxliennotice.com
 

#2
Posts:
2710
Joined:
21-Apr-2014 7:21am
Location:
The Land
Aren't these actions taken a credit to the account?

No. More like abatements. If the SOL expires, you can’t obtain a cash refund for any overpayment, nor can you say, “Please credit that overpayment to next year’s liability,” for example. So, it’s referring to payment by credit.
 

#3
Posts:
18
Joined:
11-Jul-2017 12:36pm
Location:
Miami
Thank you for responding. Makes perfect sense.
Alan Goldstein & Associates
PO BOX 772166
Miami, FL 33177
305-592-2476
http://www.employeeclassification.com
http://www.taxliennotice.com
 


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