IRS Form 5329 has its own statute of limitations clock

In Couturier v. Commissioner, the taxpayer rolled funds into an IRA that were later determined to be excess contributions. The IRS assessed an excess contribution excise tax, and the taxpayer argued the IRS was precluded from that because the IRS had not assessed any income tax on the transaction. The statute of limitations expired on the timely filed Form 1040, but the Tax Court did not agree with the taxpayer’s argument and upheld the excise tax assessment. As in Paschall,