What is the statute of limitations applicable to tax collections?
The normal period is ten years from the date the return was filed or the liability was assessed. This period is extended by filing– • an offer in compromise [currently for the period that the offer is under consideration plus one year; for offers submitted after December 31, 1999, the provision for the extra year has been deleted pursuant to the IRS Restructuring and Reform Act of 1998 (IRSRRA)], • Form 9465, Installment Agreement Request (which permits an extension for the duration of the installment agreement plus 90 days), or • a petition in bankruptcy (for the period of time in bankruptcy plus six months). 2. What type of documentation is available from the IRS to provide verification of amounts owed by a taxpayer? In addition to filing Form 4506, Request of Tax Return Information, to obtain a copy of a tax return, the most commonly requested items to obtain specific information concerning an individual or business taxpayer are– • a Penalty and Interest Notice Explanation (PINEX)
