Statute of Limitation for collecting taxes

[js7777]

What is the name of your state? CO

I've been on a payment plan with the IRS for almost 10 years. I've heard about the 10 yr statute but can't find it in the Tax Laws. Can anyone tell me the chapter and verse?

Also, does the complexity of the process to dismiss remaining taxes owed after the 10 yrs require an attorney or can this be handled by the individual?

And finally, are there any pitfalls to watch out for?

 

[Ladynred]

You might want to read this:


http://www.irs.gov/irs/display/0,,i1=46&genericId=23210,00.html

Tax Regulations - Statute of Limitations

 

[HowardC]

So it's 3 years from the date of filing, and 10 years from the date of assessment. What if, for example, 10 years ago, someone sold a property, filed saying they were intending to buy another property within two years and so delay capital gains tax, but subsequently did not buy the other property in time, and did not re-file?