Tax Debt Relief Can Be Achieved With The Help Of A Tax Lawyer
Statute of Limitations For IRS and Franchise Tax Board Collection
Protect yourself from intimidation, liens and penalties by the IRS and California Franchise Tax Board. John Spurgeon, both a tax lawyer and tax accountant, can provide counsel for tax debt relief though the statute of limitations.
Statute of Limitations for IRS Collection
- Collection – The statute of limitation provides that the IRS has 10 years after the date of assessment to collect or levy for any tax owing
- Assessment – The statute provides that the IRS has 3 years after a return has been filed to make a tax assessment (i.e. issue a tax bill).
- Court Action – The IRS must initiate any court action within 3 years
- The statute is extended to 6 years if the taxpayer omits additional gross income in excess of 25% of the gross income reported in a filed tax return
In the case of a fraudulent or false tax return, the statute of limitations does not apply and you may be subject to investigation by the Criminal Investigations Division of the IRS.
Statute of Limitations for Tax Refunds
- Where a return was filed, the taxpayer has 3 years to claim a refund or 2 years from the time the income tax was remitted
- Certain claims for bad debts and worthless securities can extend the deadline to 7 years
Tax debt relief may not be disclosed to you. Generally the IRS does not inform you that they cannot no longer collect a tax debt. As tax lawyers and accountants with broad knowledge about dealing with the IRS and the Franchise Tax Board we are confident that we can be of assistance to you.
Please call 626-440-9518 for a free 15 minute phone consultation about your tax situation.