Nebraska Statutes 77-2787. Income tax; erroneous refund; deficiency; limitation
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An erroneous refund shall be considered an underpayment of tax on the date made, and an assessment of a deficiency arising out of an erroneous refund may be made at any time within two years from the making of the refund, except that the assessment may be made within five years from the making of the refund if it appears that any part of the refund was induced by fraud or the misrepresentation of a material fact.
Source
- Laws 1967, c. 487, § 87, p. 1609.
Terms Used In Nebraska Statutes 77-2787
- Assessment: means the act of listing the description of all real property and taxable tangible personal property, determining its taxability, determining its taxable value, and placing it on the assessment roll. See Nebraska Statutes 77-126
- Fraud: Intentional deception resulting in injury to another.