Cris,
The Collection Statute Expiration Date (CSED) is 10 years after the tax was assessed, unless it has been extended for some reason such as by agreement with taxpayer, by a bankruptcy filing, by the filing of an offer in compromise, or if TP is out of the country for more than 6 months. There are other things that can extend the CSED also. An additional assessment of tax will have its own CSED also. You could learn the assessment date(s) by reviewing the Account Transcript.
John Stevens, EA
Stevens Tax & Accounting, Inc., dba Equi-Tax
1870 - 50th St. E., Suite 8
Inver Grove Heights, MN 55077
651-773-5000
FAX 651-457-4529
equitax@unique-software.com
www.equitax.net
From: taxchat@yahoogroups.com [mailto:taxchat@yahoogroups.com] On Behalf Of Cris Kelly
Sent: 09/23/2008 2:40 PM
To: taxchat@yahoogroups.com
Subject: RE: [taxchat] statue of limitations
I thought after 10 years that the IRS could no longer enforce collections?
cris
From: taxchat@yahoogroups
Sent: Tuesday, September 23, 2008 12:35 PM
To: taxchat@yahoogroups
Subject: Re: [taxchat] statue of limitations
I do not believe there is any statute of limitations on a Debt. It just accrues more interest.
Arnie
----- Original Message -----
From: Cris Kelly
Sent: 09/23/2008 3:28 PM
Subject: RE: [taxchat] statue of limitations
Sorry / IRS is trying to get money for taxes that were filed in 2002 from one of my clients.
Thanks,
cris
From: taxchat@yahoogroups
.com [mailto:taxchat@yahoogroups. com] On Behalf Of Arnold M. Socol
Sent: Tuesday, September 23, 2008 12:18 PM
To: taxchat@yahoogroups.com
Subject: Re: [taxchat] statue of limitationsWhat statute of limitations are you concerned about? There are several for different things. Such as, 7 years for civil suite, 3 years for IRS to audit, none for fraud. Just found out because of an accident I had in a national store - 3 years for personal injury. So be more specific.
Arnie
----- Original Message -----
From: Cris Kelly
Sent: 09/23/2008 2:53 PM
Subject: [taxchat] statue of limitations
Isn’t it 10 years?
I just want to verify.
Thanks,
cris
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IRS Circular 230 Disclosure: Unless expressly stated otherwise in this transmission, any tax advice contained herein, forwarded with or attached to this message was not and is not intended to be used, nor may it be relied upon or used, by any taxpayer for the purpose of (1) the avoidance of any tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax transaction or tax-related matters that may be addressed herein.
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