For any given tax year, if the IRS changes and corrects the taxable income, taxable estate and/or income tax due on an Arkansas taxpayer's federal income tax return, the taxpayer must file an amended Arkansas income tax return within thirty (30) days of receiving such notice from the IRS.

This provision applies to any taxpayer who is required to file an Arkansas individual income tax return, whether the individual is a resident, part-year resident or nonresident of Arkansas.

In the case of a taxpayer who fails to file a return, underreports his income by twenty five percent (25%) or more, or fails to notify the director of any change or correction by the Internal Revenue Service, no amended return or verified claim for credit or refund will be allowed after 3 years from the date the original return or the notification of change by the Internal Revenue Service was originally due.