statute of limitations on i.r.s. offer/comoromise

is there any kind of statue of
limitation on i.r.s. offer/compromise?
. I was 17 my husband 20 a young
carpenter in texas, was getting 1099,
making 5 dollars a hour, After moving
back home to make a better wage, filed
with IRS. He owed 2500.00 that grew to
25,000.00 with penalties and interest.
Over 12 years ago, signed to make
payments with them on their terms. After
one year on those terms and taking his
fed, that did not cover the interest on
it. 20 years later now owe 14,000.00
after already paying them 11,000 for the
mere amount of 2500.00. So, at our wits
end here, with a lien that been with us,
not being able to own our own home or a
new car, someone told us there should be
a statute of limitation on
offer/compromise that we signed, and
should be able to go and make a
reasonable offer to take care of this.
Is there any truth to this? Any help
would be appreciated.