When Does The IRS Tax Debt Statute Of Limitations Expire? - Tax and Accounting Coach

Описание: When Does The IRS Tax Debt Statute Of Limitations Expire? Are you curious about how the IRS handles unpaid taxes and what deadlines apply to tax debt collection? In this informative video, we'll explain everything you need to know about the IRS tax debt statute of limitations. We'll start by defining what the Collection Statute Expiration Date is and how it impacts the IRS’s ability to pursue unpaid taxes. You'll learn about the typical ten-year period that the IRS has to collect taxes after they are assessed and what actions can start or stop this clock. We’ll discuss important exceptions, such as bankruptcy filings, Offers in Compromise, and living outside the U.S., which can pause or extend the deadline. If you're wondering how to find out the exact expiration date for your tax debt, we'll show you how to request a transcript from the IRS that reveals assessment and expiration dates. Additionally, we’ll cover what happens if you never file a return or if fraud is involved—situations where the statute of limitations may not apply. Knowing these details can help you better manage your tax obligations and plan accordingly. Whether you're a taxpayer, accountant, or financial advisor, understanding this process is essential for staying compliant and avoiding surprises. Subscribe for more helpful tips on tax and accounting topics!

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About Us: Welcome to the Tax and Accounting Coach channel! Our mission is to make tax and accounting topics approachable for everyone, whether you are a small business owner or someone looking to improve your personal finance skills. Here, you'll find content covering tax deductions, accounting basics, small business taxes, and practical tips for tax filing and bookkeeping essentials. We also share insights on IRS regulations, financial statements, and effective tax planning strategies to help you stay compliant and financially savvy.