Define "statute of limitations" in relation to tax returns.

The statute of limitations in relation to tax returns specifically refers to the period during which the IRS can assess additional tax. This time period typically lasts for three years from the date a tax return is filed or the due date of the return, whichever is later.

After this time frame, the IRS generally cannot initiate an audit or make additional assessments on that tax return unless it pertains to certain situations such as fraud or substantial understatement of income. This limit is set to provide taxpayers with assurance that their filed returns will not be subject to indefinite scrutiny and to encourage timely filing and resolution of tax matters.

While the other responses present related but distinct concepts—like filing deadlines, the voiding of returns, and refund request periods—they do not accurately capture the essence of the statute of limitations as it pertains to the IRS's authority to assess taxes. Hence, the correct understanding revolves around the defined limit for the IRS to assess additional taxation on the reported income.