I have a question for our resident HHW tax expert, DR FJL:
Typically, the IRS (or state taxation agency) reviews my tax return when I first submit it and will sometimes send me a letter regarding an adjustment. I was told by a friend that if they review it later, perhaps a year or two later, that they can only do that once, ie, they can't keep coming back and saying you owe more money and more money. Even if they missed something.
Can you confirm this?
Thanks!