You accept that you missed a tax payment or made a mistake that resulted in you owing the federal government money, but it happened so long ago. Could the IRS really still collect on the debt?
Like most legal problems, there is a time by which the IRS must file an action against a taxpayer or lose their right to a legal recovery. However, special rules, known as the Collection Statute Expiration Date (CSED), apply to the IRS and give the IRS considerably longer to pursue a recovery than is typical in other areas of the law.
3 Things You Need to Know about the IRS CSED
If you owe outstanding taxes to the federal government, then you need to know that the CSED is generally 10 years. However, we purposely emphasis the word “generally” because many situations extend or toll the typical ten-year period. For example, the ten-year rule may not apply if:
- You failed to file a tax return. The CSED never begins to run until you file a tax return.
- You lived outside of the United States for six months or more.
- You filed for bankruptcy. The CSED may be extended for the time that you were in bankruptcy plus 90 days.
Many other exceptions may apply, so it is important to contact a Tulsa tax lawyer for help if you have old tax problems that could still cause you a problem.
Call a Tulsa Tax Attorney Today
For more information about your rights and about whether the IRS may recover money from you, please call an experienced Oklahoma tax lawyer today at 800-721-7054, and please read our FREE book, The Ultimate Survival Guide for IRS Problems.