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Collection Statutory Period
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Are you worried your tax problems are never going to end?

Relax! Tax debts are not going to hang around forever.  In fact, there is a time limit as to how long collection attempts can take place.  The Collection Statute of Limitations is 10 years from the assessment date of your tax. The IRS cannot collect on tax debts that are older than 10 years.

Does This Mean I Don’t Have To Pay?

The answer to this is, in short, No. It is your moral and ethical responsibility to pay your taxes. Also, the IRS does not look kindly on those that skip out on their payments.

Why Is This Statute Important?

This Collection Statute is in place to protect those that may be experiencing unusual circumstances.  In cases where someone’s tax liability went unnoticed due to a mistake or was fraudulently changed, this statute could protect them from tax collection on those debts .

In everyday cases, this statute is held as a general guideline for tax collection. However, there are many ways the IRS can extend this time frame. Filing an offer in compromise, requesting a hearing or filing bankruptcy are some of the ways the IRS can legally extend the period of time they have to collect on your tax debt.