From The Desk of Keith L. Jones, CPA
What is Collection Statutes?
IRS Collection Statute Expiration Date is the date after which the IRS can no longer collect a tax debt. This date is usually 10 years from the assessment date.
IRS Collection Statute Expiration Date (CSED) “It is a basic concept of law that once a statute of limitation has passed, no action barred by the statute may take place.” –Procedurally Taxing
The IRS collections statute expiration date (CSED) is the date after which the IRS can no longer collect a tax debt. When things are simple, the CSED is easily calculated as 10 years from the date of assessment.
The reason the statute of limitations is so important is that the amount of time remaining on the collection statute determines which solution the taxpayer should select to resolve their IRS tax liability.
keithjones.cpa