Assessment
An assessment is a determination of a tax liability and can be done by the Office of State Revenue or by a client.
If necessary an assessment can be reassessed up to 5 years from the original assessment. If a true and full disclosure of the facts was not made and the resulting reassessment would increase the liability, no time limit applies.
The Chief Commissioner can make an estimate assessment if full details are not available, or a compromise assessment if it is difficult or impractical to make an exact assessment.
Last updated: 2008-05-09
