The tax code gives the IRS three years to audit your tax return and 10 years to collect any tax you owe.
Additionally:
- The IRS has six years from the date a return is filed to audit a
tax return and to assess additional tax if the taxpayer omits income
that amounts to more than 25 percent of that which was reported on the
tax return.
- The IRS also has six years to audit a tax
return and assess additional tax on income related to undisclosed
foreign financial assets if the omitted income is more than $5,000.
- The
statute of limitations on audits and assessing additional tax remains
open indefinitely if the taxpayer files a false or fraudulent tax
return.