What is the Statute of Limitations for IRS Collections
Can you really wait it out?
How long can the IRS legally go after you for back taxes?
Fortunately, there is a limit, so let's talk about it!
10 years. The IRS has 10 years to collect on taxes owed. However, most people need to handle their problems with the IRS sooner than 10 years.
When the IRS refers to its time left to collect, they usually say “CSED,” which stands for Collection Statute Expiration Date.
After the 10 years is up, the taxes, penalty, interest, are all written off and you no longer owe it back to the IRS.
Are there situations where the 10 years can reset?
You should know when your debt will be forgiven, and if the 10 years has been reset you can be off by years...
The IRS can file a return for you if you fail to do it, and it can reset the 10 years on your tax debt.
Click below to learn about the details from an expert...