Statute of Limitations
Many people do not realize that there is a statute
of limitations on both the IRS' right to audit your
returns, and its right to collect past due taxes from
you.
- A statute of limitations exists on IRS' right to
audit (generally 3 years from date of filing of returns)
- A
statute of limitations exists on IRS' right to
collect (generally 10 years from date of assessment
of liability)
- Both can be extended if an Offer
in Compromise is filed and not accepted; if a bankruptcy is filed and the debt was not discharged; if the
taxpayer is out of the country for at least 6 months;
or if the taxpayer voluntarily extends the statute.
One
of the services we provide
is determining exactly when the statute of limitations
will expire in your case.
We know the answers and we can help
solve your tax problems
Contact
us now to get your life back.
