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...