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I was told that the Irs has a time limit to collect on taxes or tax refunds that may be taken from another financial instituition. Does anyone know the time limit on this?
How do you keep them from taking all of your refund on a debt owed to Aafes? A military credit card.

2007-01-03 04:46:15 · 1 answers · asked by GEMINI W 1 in Business & Finance Taxes United States

1 answers

If an individual owes money to the federal government because of a delinquent debt, the Treasury Department can offset that individual's federal payment or withhold the entire amount to satisfy the debt. The debtor is notified in advance of any offset action to be taken. Individuals may call (800) 304-3107 with questions about a delinquent debt.

That's direct from the Treasury Department's website. More info is here: http://www.wwwebtax.com/payments/irs_keep_my_refund.htm

I'd think that once the notice has been placed with the Treasury Department's FMS, it doesn't matter how long it takes to collect. Normal tax debts are collectible for 10 years so that may apply there as well.

Yes, defaulted AAFES credit card accounts can be submitted to the FMS for collection.

2007-01-03 06:56:03 · answer #1 · answered by Bostonian In MO 7 · 0 0

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