§ 105-159. Federal corrections. - North Carolina Statutes

§ 105‑159.  Federalcorrections.

If a taxpayer's federaltaxable income is corrected or otherwise determined by the federal government,the taxpayer must, within six months after being notified of the correction orfinal determination by the federal government, file an income tax return withthe Secretary reflecting the corrected or determined taxable income. TheSecretary must propose an assessment for any additional tax due from thetaxpayer as provided in Article 9 of this Chapter. The Secretary must refundany overpayment of tax as provided in Article 9 of this Chapter. A taxpayer whofails to comply with this section is subject to the penalties in G.S. 105‑236and forfeits the right to any refund due by reason of the determination. (1939, c. 158, s. 334; 1947,c. 501, s. 4; 1949, c. 392, s. 3; 1957, c. 1340, s. 14; 1963, c. 1169, s. 2;1967, c. 1110, s. 3; 1973, c. 476, s. 193; 1989, c. 728, s. 1.31; 1993 (Reg.Sess., 1994), c. 582, s. 1; 2006‑18, s. 5; 2007‑491, s. 16.)