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Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Experience:  Nearly 30 years of varied tax industry exp. Tax Biz owner
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is it true that personel income tax drops off or reaches a

Resolved Question:

is it true that personel income tax drops off or reaches a statute of limitation after ten years. It has been in hardship or uncollectable status for 8 years now.
Submitted: 2 years ago.
Category: Tax
Expert:  Tax.appeal.168 replied 2 years ago.
Hello, THANK YOU for choosing Just Answer. My goal is to help make your life...a little...LESS taxing.

In brief, yes, there is a 10 year statute of limitations on the collection of back taxes. SEE BELOW.

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The IRS has 10 years to collect outstanding tax liabilities.

This is measured from the day a tax liability has been finalized. A tax liability can be finalized in a number of ways. It could be a balance due on a tax return, an assessment from an audit, or a proposed assessment that has become final. From that day, the IRS has ten years to collect the full amount, plus any penalties and interest. If the IRS doesn't collect the full amount in the 10-year period, then the remaining balance on the account disappears forever because the statute of limitations on collecting the tax has expired.
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 2525
Experience: Nearly 30 years of varied tax industry exp. Tax Biz owner
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