Protecting Innocent Taxpayers from Endless Assessments Act

Summary

The bill changes the Internal Revenue Code to specify that the special extension of the statute of limitations for fraudulent tax returns only applies when the taxpayer is attempting to evade tax obligations. This clarification affects all taxpayers and the IRS by narrowing the circumstances under which older fraudulent returns can be revisited. It seeks to ensure the limitation rule is used only in genuine evasion cases.

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