Collection Statute Expiration

Did you know that the IRS has 10 years to collect their debt from you? If the IRS does not collect that debt within the allotted 10 years, the debt is lifted and the IRS will stop collecting. However you must be advised that the IRS is NOT going to advise you when the 10 years are over. You are going to continue to receive notifications of what you owe and they will continue to attempt to collect the tax debt from you. That is why you need an expert tax attorney to determine when the 10 years is up and to notify the IRS of this so they can stop collecting.

You would be surprised at how many tax experts and individuals are not aware of the 10-year statue of limitations and even when the time for the IRS to collect their debt is up. The 10-year period is not established based on when the taxes are due but rather when the debt was determined.

If you find that you are in this situation and your tax debt is being collected after 10 plus years you should seek the council of an expert tax advisor so they can review your tax debt situation and determine if the IRS can and should stop collecting from you.

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