QUESTION
What is the statute of limitations on unpaid taxes?
Asked on Jan 07th, 2011 on Taxation - Illinois
More details to this question:
I was wondering what the statute of limitations was on unpaid taxes where the government cannot collect anymore?
2 ANSWERS
Bruce Givner
If you file a return, it is normally 3 years. If you omit more than 25% of gross income, it is 6 years. If you do not file a return, it is unlimited.
Answered on Jan 18th, 2011 at 2:28 PM
Chapter 7 Bankruptcy Attorney serving Lisle, IL
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Normally it is 10 years, although it can be extended by a number of events, such as bankruptcy filing, residing outside the country, submitting an offer in compromise, etc. Consult with a tax attorney.
Answered on Jan 10th, 2011 at 3:58 PM