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Jon Andrews
Jon Andrews, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 3118
Experience:  I deal with all levels of tax planning and controversy - from the ordinary to the complex.
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offer in compromise withdrawal

Customer Question

I have a debt with the IRS for 20K. I did an offer in compromise, the tax officer said to withdraw with no rights to appeal and make payment arrangements again because in 1 yr (tax from 1988/amended return 1990) would be written off after 15 yrs is this correct?
Submitted: 11 years ago.
Category: Tax
Expert:  Jon Andrews replied 11 years ago.

THe statute is suspended during the time that an OIC is pending. In addition, there is no guarantee that the IRS will write it off.


To verify the actual status of the tax, you, or someone on your behalf, should get a verified copy of the tax account for that year. It is possible that the statute for collections has already expired - but you cannot tell for sure without seeing when the tax was assessed and what actions have occurred since that time.


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Customer: replied 11 years ago.
Reply to Jon Andrews's Post: No answer really. What is the IRS statue of limitations not answered. Not a help. Realize it is a complex question because it is the IRS but needed more concise help.
Expert:  Jon Andrews replied 11 years ago.

As previously stated, the "what is the statute" question cannot be answered without knowing the information on this particular tax account. The statute, generally, is 10 years from the date of assessment. However, the statute is suspended during the time from when you submitted the OIC until the time that it is withdrawn or rejected. So for example, if the tax was assessed on 6/30/90, the regular expiration would be 6/30/2000. If you filed an OIC on 6/30/99 and withdrew it 4/30/05, the statute would expire 4/30/06, i.e. the remaining 1 year from the original statute is added to the withdrawal date to get the new expiration date.


Further complicating the matter is the fact that they could choose to file tax liens and renew them, etc.


In order to give you a positive answer, someone needs to see a verified copy of your tax account with all of the activity codes. This tells when the taxes were assessed, when any liens were filed, when the OIC was submitted, when the OIC was withdrawn, etc. Without this information, anything that anyone tells you is just a guess.


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