Nevada Tax Commission Proposes Amendment to Tax Refund Rules

The Nevada Tax Commission has proposed amendments to NAC 360.480 regarding the filing of claims for tax refunds. The proposed regulations require that claims for refunds of interest and penalties must be filed within 3 years after service of written notification of the credit on the taxpayer. Additionally, the amendments establish that claims for refunds of overpaid tax resulting from amended returns, corrections, or adjustments must be filed within 3 years after service of written notification of the credit, and provide that overpayments not claimed within statutory periods will be credited against other taxes or fees due or remitted to ...