Statute of Limitation

In general, the IRS* has 10 years from the date you file a tax return to collect the tax, penalties and interest for that year’s return.  The “clock” does not start running until you have filed a tax return.  There are specific circumstances that can “pause” the clock after a return has been filed.

For taxpayers who have filed their returns on time but the IRS has taken time to start their collection efforts, this can be a powerful solution.

The IRS automatically stops all collection efforts when the 10 year limit has been reached.  Knowing when the statute of limitation is for each year you have tax debt is a significant factor in determining your best solution.

Contact JSSB ltd now to solve your tax problem and finally get the good night’s sleep you deserve.

* The statute of limitations for state and city tax debt is typically longer, if any period is even defined.