This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

• The general rule for the statute of limitations for a refund is the later of 3 years from filing or 2 years from payment.

• How to identify a common exam trap where an early-filed return is treated as filed on the due date for the 3-year rule.

• How the 2-year rule from the date of tax payment can extend the amendment deadline.

• Why you must always calculate both the 3-year and 2-year deadlines to select the later date on an exam question.

• A simple mnemonic to remember the rule: "Three from filing, two from paying, whichever gives you more staying."

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep