IRS Has 3 Years to Audit Tax Shelters

Here’s a huge win for business taxpayers. Well, it’s a win for those involved in Son of Boss tax shelters. Generally, the IRS can’t audit your company for anything over three years back. Now, after the recent Supreme Court ruling, the IRS 3-year rule also applies to Son of Boss tax shelters. Son of Boss tax shelters have been a major source of IRS tax revenue. First, though, do you know what exactly a tax shelter is? The definition of “tax shelter”