Trusted Tax Attorney in South Texas
We Are Here To Guide You Through Your Tax Issues!
Hardworking American taxpayers are subject to a wide array of laws that can be potentially serious and problematic for their finances and businesses. COTTS LAW tax attorney proudly helps clients across Texas navigate through the world of tax law. Whether you need assistance with tax planning, consulting, help resolve IRS disputes, state or local tax issues, or anything in between, we are here for you!
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IRS DEBT EXPIRES?
By Law, the IRS has a deadline to collect unpaid Taxes: the CSED (Collection Statute Expiration Date). While there are several things that can “toll” (extend) this deadline, in general, the IRS only has 10 years after the ASSESSMENT of Taxes against you – generally this will be when your return is processed – and is often within a year from the filing of your Tax Return (although the IRS technically has up to three years to assess after filing). After the expiration of the CSED, the IRS is barred from collecting any Tax Debt owed.
If this seems confusing, it is meant to be – that is how the IRS works. We know the Tax Laws, and we know little-known facts like this. Let us analyze your Tax situation. We will determine your CSED and determine if you are eligible for relief under the Tax Laws – or whether this can be used as a strategy for settling your Tax Debt.