In the United States, the statute of limitations for tax debts varies depending on the type of tax owed and the circumstances of the case.
For federal income tax debts, the general statute of limitations is 10 years from the date the tax was assessed. This means that the Internal Revenue Service (IRS) has 10 years from the date the tax was assessed to collect the debt or take legal action. However, there are some exceptions that may extend or pause the statute of limitations, such as filing for bankruptcy or requesting an installment agreement.
For state tax debts, the statute of limitations varies by state and can range from 3 to 20 years. It is important to check the specific statute of limitations in your state to understand your rights and obligations.
It is important to note that even if the statute of limitations has expired, it may still be in your best interest to pay off the tax debt. Unpaid tax debts can have significant consequences, such as damaging your credit score, garnishing your wages, seizing your assets, or even facing legal action.
If you have a tax debt and are unsure about the statute of limitations or your options for addressing it, it is recommended that you consult with a licensed attorney or tax professional for personalized guidance.
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