Correction period - jeopardizing investments |
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The correction period begins with the date of the investment and ends 90 days after a notice of deficiency for the additional tax is mailed. This period is extended by any period during which a deficiency cannot be assessed because of pending Tax Court proceedings, and any other period the IRS determines is reasonable and necessary.
Additional information
Return to Life Cycle of a Private Foundation
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Page Last Reviewed or Updated: January 06, 2009