Is there a statute of limitations on owing the IRS back taxes?

Question

I owe the IRS some back taxes from about 7 seven years ago and before I address this want to know if there is a statute of limitations that will run out and if so, when?

Answer 1

Death?

Answer 2

There is a statute of limitations if you filed a valid tax return for the tax year in question - I don't know exactly how long it is. However, if you never filed a tax return for that tax year then there is no statute of limitations. Also, if the IRS already told you owe back taxes and file a lien in time, then you're pretty much screwed. If they send you a notice before the statute of limitations expires and manage to get a lien on your property, the lien is good for another 10 years after that. Best thing to is to get a lawyer to settle the back taxes and just pay it off now.

Answer 3

there's a statute of limitations do you should filed a valid tax go back for the tax year in question - i don't understand precisely how lengthy that's. though, do you should lower than no circumstances filed a tax go back for that tax year then there is not any statute of limitations. also, if the IRS already recommended you owe again taxes and record a lien in time, then you quite are typically screwed. in the journey that they deliver you a observe earlier than the statute of limitations expires and manage to get a lien on your resources, the lien is sweet for one extra 10 years after that. good element to is to get a legal professional to settle the again taxes and in simple terms pay it off now.

Answer 4

If you have filed, the IRS can look back 7 years and make changes or require you to appear for an interview with proof that the return is correct (save everything).

If you miss something, and discover they might owe ou money, you can only go back 3 years.

If they decide you did something fraudulently, they can go back forever. For example, you didn't file at all one year, or your employer's records show more pay than what you reported, or whatever they consider fraud at the moment.

Upon death, they can still require your executor or next of kin to answer and/or pay taxes due.

Answer 5

There is NO statute of limitations if you failed to file a return for the tax year in question.

Answer 6

I don't believe there is a limitation. If you owe- you owe- so off to work you go. I would recommend contacting an agency that can help reduce your tax debt. I don't know how much they cost but I would investigate it before the IRS takes your wordly possessions and puts them up for auction which THEY WILL DO if you keep dragging your heels.
Good luck-- here's a couple links:

http://www.ustaxreliefagency.org/

This next one offers free consultations-

http://www.omni-financial.com/5105/

The next one says they can reduce your tax debt down to pennies on the dollar-

http://www.txmstr.com/

Have a great day!!!

Answer 7

Unfortunately the only statute of limitations is death...Paying taxes is one of the things that we have to do...and to make it worse ...back taxes come with fat fines, lots of interest and possible jail time. Good Luck!!

Answer 8

Yes there are. In fact there are many different ones depending on your particular circumstances, so there is no one answer to your question. For a brief overview see http://www.irs-tax-solutions.com/statureoflimitations.html

Answer 9

I recall that it is 10 years. I know they are forgiving many debts owed (if not substantial). There is information on it somewhere, but I forget! But, they forgave mine!!!!! Praise God!

Answer 10

I don't think there is. Talk to a tax lawyer