136.076 Auditing of returns -- Assessment of additional tax

136.076 Auditing of returns -- Assessment of additional tax.

(1) As soon as practicable after each return is received, the department shall examine

and audit it. If the amount of tax computed by the department is greater than the

amount returned by the taxpayer, the additional tax shall be assessed and a notice of

assessment mailed to the taxpayer by the department within four (4) years from the

date the return was filed, except that in the case of a failure to file a return, or of a

fraudulent return, the additional tax may be assessed at any time. The time provided

in this section may be extended by agreement between the taxpayer and the

department.

(2) For the purpose of subsection (1) of this section, a return filed before the last day

prescribed by law for filing the return thereof shall be considered as filed on the last

day. For taxable years beginning after December 31, 1993, any extension of time

granted for filing the return shall also be considered as extending the last day

prescribed by law for filing the return.