What is the IRS Collection Statute Expiration Date?
IRS must waive whatever balance you have. This is not always easy though because there are cases in which they can reduce the lien to judgment and pursue the balance for another ten years if they have placed a lien against your assets. The collection statute expiration date (CSED), watax.com explains, can be extended in cases of bankruptcy, leaving the country for a period of time, filing for an offer in compromise, collection due process hearings and military deferment. Take bankruptcy as an example. After you have filed bankruptcy, the “countdown” for your collection statute expiration date is stopped for the entire length of time you’re in bankruptcy until six months after. It is for this reason that you have to greatly regard the effect your actions will have on the collection statute expiration date before taking any of the above actions, especially in filing bankruptcy. Any tax debt not integrated in the bankruptcy will remain and the IRS will recommence collection action once yo
