The IRS has a limited time to collect tax debt. Our CPAs help Florida businesses understand Collection Statute Expiration Dates, avoid actions that extend the timeline, and protect your rights.
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The Collection Statute Expiration Date (CSED) is when the IRS loses its legal right to collect your tax debt. The IRS typically has 10 years from the date your tax was assessed to collect what you owe. After the CSED passes, the debt becomes legally uncollectible and the IRS must stop all collection efforts. However, certain actions can extend or suspend this timeline, sometimes adding years to the collection period.
Anyone with older tax debt should understand their CSED. This includes businesses with tax debt approaching 10 years old, taxpayers considering payment plans or settlements, or anyone who previously filed bankruptcy or an Offer in Compromise. If you're close to your CSED, one wrong move could restart the clock. Understanding your timeline helps you make smart decisions about resolving debt.
We protect your CSED timeline. First, we request your account transcripts and calculate your exact expiration date. Then we identify any tolling events that extended your timeline and review proposed actions for CSED impact. We advise whether to wait out the statute or pursue other relief options. If the IRS tries to extend your CSED improperly, we challenge it.
Let us analyze your timeline and help you make informed decisions about your tax debt strategy.
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