2024 Indiana Code
Title 6. Taxation
Article 3. State Income Taxes
Chapter 4.5. Partnership Audit and Administrative Adjustments
6-3-4.5-14. Changes to a Report of Final Partnership Adjustments; Timing

Sec. 14. For purposes of this chapter and IC 6-8.1-5-2, an assessment may not be issued against a direct or indirect partner or partnership with regard to changes related to a report of final partnership adjustments if the report of proposed partnership adjustments is issued by the department to a partnership after the latest of:

(1) three (3) years after the due date of the partnership's return, including any valid extension granted under IC 6-8.1-6-1;

(2) three (3) years after the date the partnership's return is filed with the department;

(3) in the case of the partnership's underreporting of its adjusted gross income by more than twenty-five percent (25%), the periods provided in subdivisions (1) and (2) shall be six (6) years;

(4) if the partnership fails to file a return required under IC 6-3-4-10, files a fraudulent return, or files a substantially blank return, no time limit;

(5) in the case of a report of proposed partnership adjustments arising from final federal adjustments:

(A) one hundred eighty (180) days after the date on which the department receives the final federal adjustments from the partnership in the manner prescribed by the department; or

(B) December 31, 2021;

whichever is later; or

(6) in the case of a report of proposed partnership adjustments issued to a tiered partner that is a partnership as a direct or indirect result of another partnership's report of final partnership adjustments, final federal adjustments, or an amended return, one hundred eighty (180) days after the applicable deadline for the tiered partner or the date otherwise determined under this section for the partnership, whichever is later.

As added by P.L.159-2021, SEC.18. Amended by P.L.137-2022, SEC.47.