IRS Statute of Limitations On Collection Statute Expiration Date
Tax law provides that the length of period for collection after assessment of a tax liability is 10 years. Each tax assessment has a Collection Statute Expiration Date.
The collection statute expiration date is generally the window that the IRS has to legally collect a taxpayer’s tax balance. The legal framework includes 10 years from the date of assessment to have the right to collect tax debt. In other words, If the IRS is requesting you to pay dues older than 10 years, their organization has passed the due date. If this is your circumstance, contact a tax professional immediately. Justice lies within the law, and the government should abide within the legal frameworks
Essentially, the Collection Statute Expiration Date has a decade to legally collect a tax balance. Victory Tax Lawyers wants to share a few examples if you are wondering how to extend the due date:
- Request a Collection Due Process Hearing
- Apply for an OIC (Offer In Compromise)
- Reside outside the U.S. for six months or longer
- Apply as Innocent Spouse Relief
In some cases, the IRS may ask you to extend a given time period of CSED. At that time, the IRS has no right to gather tax debts. The IRS, for example, extends the CSED when taxpayers request innocent spouse relief, or a collection due process hearing; apply for an offer in compromise; file for bankruptcy; or was abroad for six months or more.