House Bill 715 Summary

• Extends the statute of limitations for claiming credits or refunds of tax penalties and interest from 3 years to 10 years, measured from the later of the return due date or filing date.

• Maintains a 3-year limitation period for claims related to withheld amounts, estimated tax payments, and backup withholding, with a separate 10-year period for credits only.

• Allows the 3-year period to be extended by the number of days an individual is granted under Internal Revenue Code section 7508 for military service or other qualifying absences.

• Provides that when federal tax adjustments are finalized, Idaho taxpayers have up to one year from federal determination to claim refunds or credits, in addition to standard 3-year periods.

• Applies retroactively to January 1, 2022, and is declared an emergency measure effective upon passage and approval.