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IRS Tax Debt: Answers To FAQs

UPDATED: December 16, 2019

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The Internal Revenue Code is complicated and constantly changing. Justin Hein, Managing Attorney for Roni Deutch, A Professional Tax Corporation, provides answers to some common questions:

Do unpaid IRS tax debts ever simply go away?

Answer. Yes. The IRS has ten years from the date a tax return is filed to collect any IRS tax debt from that return. If it fails to collect the IRS tax debt during that time period, the tax debt – as well as any interest or penalties - expires completely. The date an IRS tax debt expires is known as the Statue Expiration Date (SED).

Can taxpayers view IRS transcripts?

Answer: Yes. Any taxpayer can contact the IRS by phone or in writing to request a copy of their tax transcripts.

What does the IRS look for in an audit?

Answer: The IRS generally looks at income that appears to have been understated and at deductions and credits that have been taken by a taxpayer. Generally, the IRS may concentrate on a new area to focus its tax audit attention.

How can you resolve your IRS tax debt?

Answer: The IRS has several tax debt resolution programs, including Offer in Compromise, Installment Agreement and placement into Currently Not Collectible status.

Is there more IRS tax relief available due to the poor economy?

Answer: Although the IRS distributed a press release about a year ago saying that it was going to “more understanding and compassionate” to taxpayers, it doesn't seem to have materialized. The likely reason is that the federal government needs money too and it has actually been more aggressive than ever.

IRS tax debt help

If you're in search of IRS tax debt help, contact a tax law attorney to discuss your situation, evaluate your options and determine which form of IRS tax debt help is right for you.

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