Individual Taxation-Other Items
　　1.Statute of Limitations
　　I)3 years from later of(a)due date of return or(b)date return is filed
　　II)25% understatement of gross income–6 years
　　III)Fraud and false returns=no statute of limitations.
　　IV)Refunds for individuals(form 1040x)
　　V)Form 1139 is used to claim a refund of corporate income taxes.
　　2.Estimated Tax and Inadequate Withholding
　　I)Estimated Taxes–Required Minimum：(a)$1000 or more tax liability.(b)Inadequate tax estimates，if the lesser of 90% of current year‘s tax or 100% of last year’s tax.
　　3.Failure to Pay Estimated Taxes-Penalty
　　Class Questions for S4.
　　CPA-02107
　　A calendar-year taxpayer files an individual tax return for Year2 on March 20，Year 3.The taxpayer neither committed fraud nor omitted amounts in excess of 25% of gross income on the tax return. What is the latest date that the Internal Revenue Service can assess tax and assert a notice of de?ciency?
　　a.March 20，Year 6. b.March 20，Year 5.
　　c.April 15，Year 6. d.April 15，Year 5.
　　CPA-02084
　　Krete，an unmarried taxpayer with income exclusively from wages，led her initial income tax return for Year 8. By December 31，Year 8，krete‘s employer had withheld $16，000 in federal income taxes and Krete had made no estimated tax payments. On April 15，Year 9，Krete timely?led an extension request to ?le her individual tax return and paid $300 of additional taxes. Krete's Year 8 income tax liability was $16，500 when she timely?led her return on April 30，Year 9，and paid the remaining income tax liability balance. What amount would be subject to the penalty for the underpayment of estimated taxes?
　　a.$0　　b.$200　　c.$500　　d.$16，500