With regards XXXXX XXXXX previous debt collection question, if Colorado is stating that I owe tax from 2006 - does statue of limitations apply?
Thank you for your follow up question. Sorry to have to point out the site rules but they monitor our responses.
According to Colorado DOR - http://www.revenue.state.co.us/fyi/html/generl18.html - the federal statute of limitations and any activity that affects the federal time frame will impact the Colorado statute of limitations. [§§39-21-107(2) and 39-21-108, C.R.S.]
When a taxpayer fails to file an income tax return or files a false or fraudulent return with intent to evade the tax, the tax may be assessed and collected at any time. [§39-21-107(4), C.R.S.]
The Colorado statute of limitations can be extended beyond the federal statute of limitations plus one year in the following situations:
Federal statute of limitation for assessments is 10 years. The 10 year statute of limitations can be extended by agreement between the taxpayer and the IRS provided the agreement is made prior to the expiration of the 10 year period. See section 6501(c)(4) of the Tax Code and section (NNN) NNN-NNNNc)-1(d) of the Tax Regulations.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).