The Statute of Limitations law sets the maximum time period legal proceedings can be initiated by any party. As a general rule, the statute of limitations for the IRS to assess tax and penalties, or to file suit against the taxpayer to collect the tax is three years after the return was filed or due, whichever is later. In addition, the IRS usually has ten years from the date of assessment to collect a debt. However, there is no statute of limitations when a taxpayer has failed to filed a required tax return. In general, this means the IRS can assess tax or bring suit to collect tax and penalties against the taxpayer at any time. Except for filing fraudulent returns or attempting to evade any tax, filing the required tax returns puts a meter on the three-year statute of limitations. It is in the best interest of the taxpayer to file current returns on time and file past due tax returns immediately. With your cooperation, your current and past due tax returns will be prepared and filed right away by our expert tax resolution specialist.
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