Legal Question in Tax Law in California
Past Statute of Limitations
We have various tax liens from 1984,1987,1990. In 1996 an IRS agent came to us and threatend to close down our business if we did not agree to extend the time to collect all back taxes. So we did agree in order to stay in business. Please advice if this was legal.
2 Answers from Attorneys
Re: Past Statute of Limitations
Depends on exactly what was said, but you should take other actions now, make a plan, prepare for a compromise or payment and then rescind extension.
Joel Selik
www.taxworkout.com
800-894-2889
Re: Past Statute of Limitations
The IS may have refrained from taking immediate action in exchange for your agreement to extend the statute of limitations. It is very possible that they could have closed or seriously hampered your business.
How much is involved. Will you ever be able to pay it? You may want to consider an offer in compromise, which would allow you to pay a lower amount and get the liens released.
Let me know if I can help.
Ken Koenen
925-924-0100
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