(a) General Rule. The amount of any tax, additions to tax, penalties and interest imposed by this article or any of the other articles of this chapter to which this article is applicable shall be assessed within three years after the date the return was filed (whether or not such return was filed on or after the date prescribed for filing); provided, that in the case of a false or fraudulent return filed with the intent to evade tax, or in case no return was filed, the assessment may be made at any time.
(b) Time Return Deemed Filed.
(1) Early return. For purposes of this section, a return filed before the last day prescribed by law, or by regulations promulgated by the Director of Finance for filing thereof, shall be considered as filed on such last date.
(2) Returns executed by the Director pursuant to the authority conferred by Section 779.35, shall not start the running of the period of limitations on assessment and collection.
(c) Exceptions. Notwithstanding subsection (a) hereof:
Extensions by agreement. The Director and the taxpayer may enter into written agreements to extend the period within which the Director may make an assessment against the taxpayer which shall not exceed two years. The period so agreed upon may be extended for additional periods not in excess of two years each by subsequent agreements in writing made before the expiration of the period previously agreed upon.
(d) Cases Under Bankruptcy Code. The running of limitations provided in subsection (a) hereof, on the making of assessments, on collection, shall, in a case under Title Eleven of the United States Code, be suspended for the period during which the Director is prohibited by reason of such case from making the assessment or from collecting the tax and:
(1) For assessment, sixty days thereafter; and
(2) For collection six months thereafter.
(Ord. 0-604. Passed 8-28-90.)