Is there a statute of limitations regarding back taxes?

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It can be difficult to pay the bills with your earned income. When you factor in taxes, it can be near impossible. Although we all try to be good citizens and pay our taxes, we sometimes don’t account for everything and end up owing even more than we pay every year. For this reason, it is a legitimate fear that the IRS can collect any taxes. It then makes sense to look into any statutes of limitations that exist when it comes to back taxes.

There is a statute of limitations for back taxes. The IRS has 10 years to collect any money that you may owe them. This means that they are able to attempt to collect unpaid taxes for a maximum of 10 years after the original assessment of the taxes.

There are a few exceptions to this, but generally speaking, once a decade has passed, the IRS must stop its collection efforts on your taxes. But, you should keep in mind that if your statute end date is nearing, the IRS may become more aggressive to get you to pay as much as possible. They may even attempt to get you to agree to extend the deadline.

You should know that the 10-year period can sometimes end up lasting more than 10 years under certain circumstances. During time periods when the IRS is legally prohibited from taking action against you, such as when you have filed bankruptcy, the 10-year collection period can be suspended. This can also happen if you live outside the US for a minimum of six months, request for innocent spouse relief, or request for an installment agreement.

It can be hard to navigate all the different circumstances and to be aware of how the law sees your specific situation. That is why you might be in need of my help. I am Tax Attorney Darrin T. Mish, and I invite you to call my Florida office at 813-229-7100 to arrange a consultation. I can help you decrease or even end your owed taxes in a legal fashion.

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