Sec. 12-593. Deficiency assessments and related penalties. Extension of time for assessment.
Sec. 12-593. Deficiency assessments and related penalties. Extension of time
for assessment. The commissioner shall, within three years after the due date for filing
a return, or in the case of a completed return filed after such due date, within three years
after the date on which such return was received by said commissioner, examine it and in
case any error is disclosed by such examination, within thirty days after such disclosure,
notify the taxpayer thereof. When it appears that any part of the deficiency for which a
deficiency assessment is made is due to negligence or intentional disregard of the provisions of this chapter or regulations promulgated thereunder, there shall be imposed a
penalty equal to ten per cent of the amount of such deficiency assessment, or fifty dollars,
whichever is greater. When it appears that any part of the deficiency for which a deficiency assessment is made is due to fraud or intent to evade the provisions of this chapter
or regulations promulgated thereunder, there shall be imposed a penalty equal to twenty-five per cent of the amount of such deficiency assessment. No taxpayer shall be subject
to more than one penalty under this section in relation to the same tax period. Within
thirty days of the mailing of such notice, the taxpayer shall pay to said commissioner,
in cash or by check, draft or money order drawn to the order of the Commissioner of
Revenue Services, any additional amount of tax shown to be due by the corrected return
or shall be paid by the State Treasurer, upon order of the Comptroller, any amount shown
to be due such taxpayer by such corrected return. The failure of such taxpayer to receive
any notice required by this section shall not relieve such taxpayer of the obligation to
pay the tax or any interest or penalties thereon. When, before the expiration of the time
prescribed in this section for the examination of the return or the assessment of said tax,
both said commissioner and such taxpayer have consented in writing to such examination or assessment after such time, the return may be examined and said tax may be
assessed at any time prior to the expiration of the period agreed upon. The period so
agreed upon may be extended by subsequent agreements in writing made before the
expiration of the period previously agreed upon. Said commissioner may also in such
a case waive the statute of limitations against a claim for refund by such taxpayer.
(P.A. 80-71, S. 7, 30; P.A. 88-314, S. 51, 54.)
History: P.A. 80-71 effective July 1, 1980, and applicable to calendar quarters commencing on or after that date; P.A.
88-314 deleted the description of tax due date because included in another section and added penalty provisions to the
deficiency assessment procedure, effective July 1, 1988, and applicable to any tax which first becomes due and payable
on or after said date, to any return or report due on or after said date, or in the case of any ongoing obligation imposed in
accordance with said act, to the tax period next beginning on or after said date.
Cited. 44 CS 407.