What is 'Period of limitations'?
2.4k views |
Last modified 5/27/2020 11:15:30 AM EST
Applicable To
94X
1099
W-2
ACA
W-4
For the previously filed Form 941, you can adjust the overreported taxes within 3 years from the date you filed the return or within 2 years from the date you paid your tax, whichever is later. Similarly to correct underreported tax on previously file Form 941, you have to file Form 941- X within 3 years from the date of filing 941. This timeframe is called as 'Period of limitation' by the IRS.