26 U.S.C. § 6235 — Period of limitations on making adjustments
submitted 11 years ago by Pub. L. 114-74 to r/title-26-INTERNAL-REVENUE-CODE · 476 words · no verdicts yet
Adjustments generally must be made within the later of specified three-year, 270-day, or 330-day periods. Agreements may extend the period, while fraud, no return, substantial omissions, and certain information failures create special longer or unlimited periods.
(a) General period. Unless this section or section 905(c) provides otherwise, an adjustment for a partnership* year may not be made after the later of (1) three years after the latest of (A) filing the partnership return, (B) the return due date*, or (C) filing an administrative adjustment request under section 6227; (2) for an imputed-underpayment modification under section 6225(c), 270 days after everything required under that section is submitted, plus any Secretary*-approved extension; or (3) for a proposed-adjustment notice under section 6231(a)(2), 330 days after the notice, plus any extension consented to under section 6225(c)(7).
(b) Agreement. Before the period ends, the Secretary and partnership may agree to extend it, including an extension under this subsection.
(c) Special rules. (1) A false or fraudulent return made to evade tax permits an adjustment at any time. (2) If gross income properly includable under section 6501(e)(1)(A) or (C) is omitted, use six years instead of three. (3) If no return is filed, an adjustment may be made at any time. (4) A return the Secretary executes for the partnership under section 6020(b) is not the partnership’s return. (5) If information required under section 6501(c)(8) was not reported, the adjustment period for related returns, events, or periods cannot end before the section 6501(c)(8) date. (6) If information about a listed transaction described in section 6501(c)(10) is omitted from a return or statement, the related adjustment period cannot end before the section 6501(c)(10) date.
Except as otherwise provided in this section or section 905(c), no adjustment under this subchapter for any partnership* taxable year* may be made after the later of—
the date which is 3 years after the latest of—
the date on which the partnership return for such taxable year was filed,
the return due date* for the taxable year, or
the date on which the partnership filed an administrative adjustment request with respect to such year under section 6227, or
in the case of any modification of an imputed underpayment under section 6225(c), the date that is 270 days (plus the number of days of any extension consented to by the Secretary* under paragraph (7) thereof) after the date on which everything required to be submitted to the Secretary pursuant to such section is so submitted, or
in the case of any notice of a proposed partnership adjustment* under section 6231(a)(2), the date that is 330 days (plus the number of days of any extension consented to by the Secretary under section 6225(c)(7)) after the date of such notice.
The period described in subsection (a) (including an extension period under this subsection) may be extended by an agreement entered into by the Secretary and the partnership before the expiration of such period.
In the case of a false or fraudulent partnership return with intent to evade tax, the adjustment may be made at any time.
If any partnership omits from gross income an amount properly includible therein and such amount is described in subparagraph (A) or (C) of section 6501(e)(1), subsection (a) shall be applied by substituting “6 years” for “3 years”.
In the case of a failure by a partnership to file a return for any taxable year, the adjustment may be made at any time.
For purposes of this section, a return executed by the Secretary under subsection (b) of section 6020 on behalf of the partnership shall not be treated as a return of the partnership.
In the case of a partnership that is required to report any information described in section 6501(c)(8), the time for making any adjustment under this subchapter with respect to any tax return, event, or period to which such information relates shall not expire before the date that is determined under section 6501(c)(8).
If a partnership fails to include on any return or statement any information with respect to a listed transaction as described in section 6501(c)(10), the time for making any adjustment under this subchapter with respect to such transaction shall not expire before the date that is determined under section 6501(c)(10).
Source credit: (Added Pub. L. 114–74, title XI, § 1101(c)(1), Nov. 2, 2015, 129 Stat. 635; amended Pub. L. 114–113, div. Q, title IV, § 411(c), Dec. 18, 2015, 129 Stat. 3122; Pub. L. 115–141, div. U, title II, § 206(k), Mar. 23, 2018, 132 Stat. 1180.)
- 2015Enacted · Pub. L. 114-74 · 129 Stat. 635
- 2015Amended · Pub. L. 114-113 · 129 Stat. 3122
- 2018Amended · Pub. L. 115-141 · 132 Stat. 1180
A history note hasn’t been published yet. The record shows enactment by Pub. L. 114-74 on 2015-11-02.
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