(A) All taxes imposed by this subchapter shall be collectible, together with any interest and penalties thereon, by suit, as other debts of like amount are recoverable. Except in the case of fraud, omission of 25% of income subject to this tax, overstatement of 25% of tax credits or failure to file a final return, an additional assessment shall not be made after 3 years from the time the return was due or filed, whichever is later, provided, however, in those cases in which a Commissioner of Internal Revenue and the taxpayer have executed a waiver of the federal statute of limitation, the period within which an additional assessment may be made by the Administrator shall be 1 year from the time of the final determination of the federal tax liability.
(B) Taxes erroneously paid shall not be refunded unless a claim for refund is made within 3 years from the date when such payment was made or the return was due, or within 3 months after final determination of the federal tax liability, whichever is later.
(C) Amounts of less than $5.01 shall not be refunded or assessed or pursued for collections unless such assessment results from income which the taxpayer has failed to report.
(Ord. 4-13, passed 2-4-2013)