11. Claims for Refund or Credits of Tax Arising from Final Federal Adjustments Made by the IRS
a. Except for final federal adjustments required to be reported for federal purposes in the partnership return for the adjustment year, a taxpayer may file a claim for refund or credit of tax arising from federal adjustments made by the Internal Revenue Service on or before the later of:
(1) The expiration of the last day for filing a claim for refund or credit of New Jersey tax, including any extensions; or
(2) One year from the date a Federal Adjustments Report prescribed in section 7 or 8 of P.L.2022, c.133 (C.54:50-48 or C.54:50-49), as applicable, was due to the division, including any extensions pursuant to this section.
b. The Federal Adjustments Report shall serve as the means for the taxpayer to report additional tax due, report a claim for refund or credit of tax, and make other adjustments, including to its net operating losses, resulting from adjustments to the taxpayer's federal taxable income.