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The IRS has 10 Years to Collect, But …

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When I obtain transcripts from the IRS for my clients I always look for the day the tax was assessed because the IRS only has 10 years to collect the debt. However, there are some events that can occur over that period of time that stops the Statute of Limitations temporarily. They include offers in compromise, collection due process hearings, requests for installment agreements, and bankruptcies.

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