The IRS generally can't come after taxpayers indefinitely to audit tax returns from prior years. Per Section 6501 of the tax code, the IRS has 3 years from the later of (1) the filing of a tax return or (2) the unextended due date of the tax return to assess a tax deficiency.

However, if the taxpayer omitted gross income that exceeds 25% of the gross income reported, the statute of limitations is 6 years. And if the taxpayer filed a fraudulent tax return (or if the taxpayer didn't file a tax return at all) then there is no statute of limitations.

If the IRS and the taxpayer mutually agree, the statute of limitations can be extended by filing Form 872.
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