(a) Limitation
when a return has been filed.
(1) Except as
provided elsewhere in this Section, the Tax Collector may assess
additional tax due at any time within four (4) years after the date
on which the return is required to be filed, or within four (4)
years after the date on which the return is filed, whichever period
expires later.
(2) However,
if a taxpayer does not report an amount properly reportable which
is in excess of twenty-five percent (25%) of the taxable amount
stated on the return, the Tax Collector may assess additional tax
due at any time within six (6) years after the date on which the
return was filed.
(3) Any delay
in commencement or completion of any examination by the Tax Collector,
which is requested or agreed to in writing by the taxpayer, shall
be excluded from the computation of any limitation period prescribed
by this Section, and the Tax Collector shall be entitled to make
a determination for taxes due without exclusion of any such time
period, and any limitation period shall be extended for a length
of time equivalent to the period of the agreed upon delay.
(4) Any assessment
of additional tax due by the Tax Collector shall be deemed to have
been made by mailing a copy of a notice of audit assessment by certified
mail to the taxpayer's address of record with the Tax Collector
or by personal delivery of a copy of a notice of audit assessment
to the taxpayer or his authorized agent.
(b) Suspension
of limitation period. The limitation period on assessment shall
be suspended for any period:
(1)The assets
of the taxpayer are in the control or custody of the court in any
proceeding before any court of jurisdiction within the United States
of America, and for one hundred and eighty (180) calendar days thereafter;
or
(2) Which the
taxpayer and the Tax Collector agree upon in writing.
(c) When no
return filed; fraudulent return. In the case of a fraudulent return
with the intent to evade tax, or the failure or refusal to file a
return for any month, the Tax Collector may assess the amount of taxes
payable for that month at any time, without any reliance by the taxpayer
upon any time limitation provided elsewhere in this Chapter.
(d) Special
provisions relating to owner-builders. The limitation for an owner-builder
subject to the tax as prescribed in Section -417 shall be based upon
the date such tax liability is reportable or was reported, as provided
in Section -417.
