SB199: Bill Text

LRB-3718/1

JS:kmg:jlb

1995 - 1996 LEGISLATURE

1995 Senate BILL 199

May 16, 1995 - Introduced by Senators Leean, Ellis and Rude, by request of Governor Tommy G. Thompson. Referred to Committee on State Government Operations and Corrections.

SB199,1,2 An Act to amend 71.75 (5) of the statutes; relating to: the deadline for filing claims for income tax refunds.

Analysis by the Legislative Reference Bureau

Under current law, a taxpayer may file a claim for a refund on taxes assessed by the department of revenue within 2 years after the assessment date. Under this bill, a taxpayer may file a claim for such a refund within 2 years after the assessment date or within 4 years after the unextended due date of the return filed for the assessment period, whichever is later.

For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB199, s. 1 Section 1. 71.75 (5) of the statutes is amended to read:

SB199,2,10 71.75 (5) A claim for refund may be made within 2 years after the assessment of a tax or an assessment to recover all or part of any tax credit, including penalties and interest, under this chapter, assessed by office audit or field audit and paid if the assessment was not protested by the filing of a petition for redetermination or within 4 years after the unextended due date of the return for the period assessed, whichever is later. No claim may be allowed under this subsection for any tax, interest or penalty paid with respect to any item of income, credit or deduction self-assessed or determined by the taxpayer or assessed as the result of any assessment made by the department with respect to which all the conditions specified in this subsection are not met. If a claim is filed under this subsection, the department of revenue may make an additional assessment in respect to any item of income or deduction that was a subject of the prior assessment. This subsection does not extend the time to file under s. 71.53 (2) or 71.59 (2), and it does not extend the time period during which the department of revenue may assess, or the taxpayer may claim a refund, in respect to any item of income or deduction that was not a subject of the prior assessment.

SB199,2,11 (End)