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    DENISE67's Avatar
    DENISE67 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 12, 2008, 05:06 PM
    Taxes that are 10 years old
    I have taxes that are over 10 years old that are owed. I have heard that after 10 years you no longer owe it. Is this true? We have both personal and buisiness taxes are owed.
    Thanks, Denise
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 12, 2008, 05:11 PM
    By law, the IRS has the authority to collect outstanding federal taxes for ten years from the date your liability is due, that is from the date the tax is assessed.

    If the tax has not been assessed yet, then this 10 years limit does not apply.
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