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Here’s What It Looks Like When a $112,000 IRS Balance Expires

statute of limitations tax return expires

Can the IRS collect after 10 years?

Despite its vast power and authority, the IRS is, in fact, bound by certain rules. Those rules are written in the Tax Code, aka the Internal Revenue Code.

Among the many rules, lies the Collection Statute Expiration Date (CSED), which limits the IRS to a 10-year window by which the agency can collect a tax debt from a taxpayer.

In the example below, one of Landmark Tax Group’s clients owed over $112,000 in taxes on a 2002 tax period. As you can see from the transcript, the taxpayer had two separate assessments, both of which have recently expired.



Account Transcript 1040A - 1040x770

How to Know When Your IRS Taxes Expire

Find Out Exactly
When Your Tax Debt Expires!

When the statute of limitations expires, the IRS taxes are automatically reduced to zero by the IRS computers, and the balance “goes away” forever. Here’s exactly how the IRS collection statute works and how to use it to your advantage.

Landmark Tax Group is a professional tax resolution firm that specializes exclusively in IRS and State back tax issues. Not only are we licensed Tax Relief Specialists, we are also former Senior IRS Agents who now serve the best interests of taxpayers like you – all we do is handle IRS and State Tax Relief matters, all day, every day.

If you owe back taxes and need to know when your tax debt expires click here for step-by-step guidance answering all of your questions.

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