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File On Time. Filing a claim on time is important, so know the deadline or bar date. The bar date is similar to a statute of limitations (time limit to bring a legal claim). The bar date for filing a proof of claim is within 90 days of the first date set for the meeting of creditors in a bankruptcy case.
If you did something fraudulent and want to come clean, it is best to get the 1040X filed before the IRS starts investigating. If you forgot to claim a deduction, you have until three years after the original due date of the return (assuming you filed on time and didn't make any payments after the due date).You have seven years to claim a worthless security or a bad debt.f you did something fraudulent and want to come clean, it is best to get the 1040X filed before the IRS starts investigating. If you forgot to claim a deduction, you have until three years after the original due date of the return (assuming you filed on time and didn't make any payments after the due date).