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Absolutely.
Yes, their is something called the "Statute of Limitations" or SOL, where the time for assessment and collection of taxes are restricted. However many things effect hwo the period for assessment (generally 7 years, but different on several types of tax or circumstances). For example, it starts to run from the time a return is filed. So if you didn't file, they remain assessable for forever. The way the time is counted has all types of things...the sending of many notices "tolls" (meaning stops the clock from running) for periods. Assessment is different than collection. The amount (as a percentage) of the underpayment can change things yet again.
So, certainly a worthy aspect to follow...as while the IRS computers are decent about keeping track and generally know if the period is open, they have been wrong. (But understand, that letter they sent 3 years ago to your old but last known address, received or not, that you forgot about, they didn't...and it tolled the SOL).
Obviously, even the way the objection or claim of Statute barred assessment is handled is important, and can lead to other problems. I recommend finding someone with the designation E.A. - which means "enrolled agent" to handle this for you. (Look under tax consultants in the phone book). They are not CPA, who have a more pure accounting view, but rather frequently ex IRS agents...have the right to represent you and are really very savy with the process and getting to a result in situations like this.
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What congressman still owe back taxes?
what fongressmen owes bacvk taxes and how much
If you are payin your child support can they still hold your taxes?
They can if you still owe arrearages. ( back support)
What happens to my owed back taxes when I retire?
You still owe them. In the US, the IRS has 10 years to collect taxes.
If you owe taxes do you still get a rebate?
No. If you owe back taxes, the government will automatically take out what you owed last year from what you get refunded this year.
What will happen if you file the current years taxes and owe for back taxes?
You will have to pay a fine. And pay all the money back that you owe.
If you owe back taxes and are on a payment plan will you still get your federal income tax return?
efiled for2011 but owe back taxes from 2009..payment plan is due august 2011..can the back taxes be deducted from payment estimated to be directly deposited by july 4 2012 without delaying deposit?
If you didnt owe money for 2007 but you did owe for past years will you still get a check?
i think if you don't owe taxes for 2007,but owe taxes on prior years you should still get a stimulus check as long as you are making monthly payments on what you owe.
Do you owe IRS back taxes?
yes
Can you get a return if you owe back taxes?
If you owe back taxes, the IRS will automatically deduct that amount from your refund. Depending on that amount, you can only receive what is left from that deduction.
Can you get federal student aid if your parents owe back taxes?
Yes. Just because they owe back taxes, doesn't mean that it will affect your student aid.
How many senators owe back taxes?
nine
What if you have no money to pay your taxes?
You are legally required to pay taxes. Taxes are only due on money you have earned therefore if you owe taxes you have had the money. If you do not pay the taxes you owe you will be sent to court and made to pay - even if you go to prison you will still owe the tax man.
