The Internal Revenue Service has a statute of limitations on the timeframe they can collect taxpayers’ debts. However, human error has caused some collection statute expiration dates to be inaccurately calculated. At Tax Defense Partners, we can resolve this tax problem with exceptional ease.
A collection statute expiration date refers to the legal timeframe the IRS must collect a tax balance. The CSED often ends the Government’s right to further pursue tax liability, i.e. 10 years from the tax assessment date. For example, you waited until 2015 to file a return for 2013. The tax will be assessed in 2015 and the 10-year period begins to run on the same year. The expiration date is 2025.
In some cases, the CSED needs to be recalculated. However, IRS agents do not always recalculate them accurately. The National Taxpayer Advocate reports that miscalculated CSEDs are one of the most serious tax problems experienced by individual and business taxpayers.
If a CSED is miscalculated beyond the actual CSED, the mistake may result in unlawful collection activity, which violates the taxpayer’s rights.
When it comes to collection statute expiration date resolution, our team can at any number of years you want to analyze. We can also provide our clients with a comprehensive report comprising of:
All in all, Tax Defense Partners can review your tax account transcript and figure everything out for you. This way, you do not need to pay penalties, interest, and taxes that are no longer legally collectible. If you have other tax debt that has not been cleared, we can determine a tax resolution strategy for you based on the above information.
Tax Defense Partners is one of the nation’s fastest growing tax debt negotiation and mediation companies. Since our inception, we have saved clients millions of dollars through the use of statute of limitations and a thorough understanding of CSED. You can rest assured that we can assign enrolled agents for all federal, state and U.S. territorial tax jurisdictions to work on your case.
Get a tax professional to recalculate your collection statute expiration date.
Give us a call now to schedule a free consultation.