2006-12-02 05:40:55 · 9 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The statute of limitations limits the time during which an action can be brought by the IRS for an audit and the time for IRS tax collection activities. Generally, there is a 3-year statute of limitations for the IRS auditing a tax return and a 10-year statute of limitations for the IRS collecting tax.
2006-12-02 05:45:32 · answer #1 · answered by Barkley Hound 7 · 2⤊ 0⤋
Federal income taxes (10 year limit on collection of federal taxes).
From the Tax Law Center:
III. Statute of Limitations for Collection of Tax from Taxpayer
A. The assessment of a tax imposes a lien on all of the taxpayer's tangible and intangible real and personal property. IRC 6321.
B. Under IRC 6502(a), the IRS has ten years from the assessment date to:
1. Collect the tax by administrative means (seizures, levies, offsets); or
2. Institute a suit for collection or a judgment.
C. If IRS commences timely suit to collect tax or obtain a judgment, then it may continue its efforts to administratively collect the tax beyond the ten-year period. IRC 6502(a).
Lawyer here...
2006-12-02 13:43:25 · answer #2 · answered by William E 5 · 0⤊ 0⤋
7 years
2006-12-02 13:42:26 · answer #3 · answered by debbie2243 7 · 0⤊ 2⤋
Barkley Hound is dead on the mark. The only exception is if the IRS can prove fraud. There is no SOL on tax fraud.
Simply failing to file a return is does not indicate tax fraud in and of itself. In fact, it might even weaken the government's case. Every case stands in its own light; though it's a light that I'd rather not have shining on myself.
2006-12-02 14:49:55 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Barkley Hound and Bostonian are right. The 7 year figure must be urban legend. It does not correspond with the statute of limitations for audit or collection.
2006-12-03 02:52:15 · answer #5 · answered by mattapan26 7 · 0⤊ 0⤋
If the reason is "Failure To File" or "Fraud" is not a Statute of Limitations. They can go back as far as they want.
2006-12-02 13:53:18 · answer #6 · answered by Wayne Z 7 · 1⤊ 0⤋
For me it was 7 years.
2006-12-02 13:42:45 · answer #7 · answered by Anonymous · 0⤊ 1⤋
7 years. Within that time, you can be audited.
2006-12-02 13:48:20 · answer #8 · answered by Mariposa 7 · 0⤊ 2⤋
seven years
2006-12-02 13:42:34 · answer #9 · answered by Dane 6 · 0⤊ 2⤋