There is a little mercy in the Tax Code-it’s called the statute of limitations on the collection of a tax debt. In general, the IRS has ten years to collect. (Internal Revenue Code § 6502.) After ten years, the debt is wiped out. There are a number of ways the ten-year period can be extended:

. The ten-year period does not start to run until you file your return and the IRS officially assesses the tax against you. Not filing a return and hiding for ten years accomplishes nothing.

. The IRS can extend the ten-year period by suing you in federal court. The IRS rarely does this. If it’s getting close to the ten-year period and you don’t owe millions, the IRS usually lets the statute of limitations run out, and you’re off the hook forever.

. Certain actions on your part can extend the ten years. For example, if you file an Offer in Compromise, are out of the United States, are in litigation with the IRS, file for bankruptcy,

request a Taxpayer Assistance Order, sign a waiver form or request a Collection Due Process hearing, the ten-year period is extended until these circumstances are resolved. These various rules are more complicated than this summary—see an experienced tax professional for more information.

Don’t jump to the conclusion that paying your IRS debt over time (or paying it at all) is your best option. Read this entire section before making your decision on the strategy you would like IRS-SOLV to use with the IRS.

First, do you really owe all the IRS says you owe? Before you agree to pay any amount to the IRS, we make sure the bill is correct. As our client we will be sure you receive a full explanation of why you owe any IRS bill. Here are some possible steps we might take for making sure your bill is correct-or for possibly reducing it.

• We review your tax returns to see if you may have missed any deductions, loss or carryovers or similar items. If we find any, we can amend your tax return and reduce your bill.
• We review the bill to make sure you have been credited with all payments, including any wage or bank levies and any refunds taken. It is common for the IRS to miss or incorrectly apply payments and credits to your account.
• We find out how the IRS calculated your bill and credited your account by requesting a computer
  transcript (code MFTRA). These printouts are not always easy to understand. We obtain explanations directly from the IRS where necessary.
• We compare your canceled checks, prior tax notices, tax refunds withheld and bank and wage levy notices with the IRS printout. If it doesn’t match up-perhaps the IRS missed some credits you were due. We will immediately bring this to the attention of the IRS. Send copies of your proof of payment or other supporting documentation.
• Almost all old tax bills include penalties and interest. It may be possible to have some or all of these unwanted additions canceled, or “abated” in IRS terminology. We research the rules to see if you qualify then we go about obtaining your abatement from the IRS.

How do I win for you? I give clients an edge of their own-a plan to beat the IRS, legally, morally, and ethically. After 35 years, I can tell you that there’s a right way to handle an IRS case and there’s a wrong, wrong way to do it. A long time ago I figured out the key to winning and now I use it every day. So click on the left column and get a quick quote. Or give us a call at 1-877-IRS-SOLV (877-477-7658). We’re always happy to help.

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