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MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
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How many years can the Irs go back to collect money you owe

Resolved Question:

I recieved a letter saying I owe money for 941 tax from 1997. What is the cutoff on this.
Submitted: 10 years ago.
Category: Tax
Expert:  MequonCPA replied 10 years ago.

Did you file the form

Have you moved since 1997

Any additional info you think is relevant

Customer: replied 10 years ago.
I can't remember if I did, but I think I did. I have moved. With Penalties and interst the total is 65000.
Expert:  MequonCPA replied 10 years ago.


Generally the maximum time frame is 10 years, but it is possible that the statute of limitations is still open if the IRS has been unable to issue the assessment due to changes in address.

Because of the size of the assessment, it would be in your best interest to contact an attorney in your area that specializes in tax problems. They can assist you in determining whether the statute is still open, the proper amount, etc. With the proper counsel and the right situation penalties and sometimes interest are negotiable. There is also the possibility of an offer in compromise if you are unable to pay the full amount over time.

Hope this helps.


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