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Get Your Money!
The Protective Claim consists of Filing 2 claims (tax returns).
1. Notification of intent.
2. Filing of a Final claim.
A protective refund claim suspends the refund statute of limitation until the taxpayer can file a complete refund claim after the occurrence of the contingency.
Claims are generally not acted upon until the contingency is resolved. However, the President can use executive orders to prioritize certain actions or to provide guidance on the interpretation or enforcement of existing laws.
A present (NOW) partial Payment or credit of a nominal amount could not be considered the payment of the claim in full.
For Illustration only:
If the claim amount stated is far greater than the refunded amount. The refunded amount cannot be considered the allowance of the claim in full or final action on the Claim.
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Example1: Claim amount is $2,000,000 – Refund amount is $20,000. (claim still open)
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Example2: Claim amount is $200,000 – Refund amount is $2000. (claim still open)
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