Feb 26, 2008

Limitation on IRS Collections

QUESTION: On my 1997 tax return, I forgot to include one Form 1099 and received a refund. Later a notice from the IRS was sent adjusting my return and telling me how much tax I owe. When does the collection period begin--from the date the return was filed or the date the notice was sent?

ANSWER: The IRS collection period begins on the date the adjusted tax amount was assessed. That is, if this adjustment was assessed to you on 8/15/1999, the collection period for the total balance owed will end on 8/15/2009. Be aware that if you filed the 1997 return jointly with your husband, the IRS will attempt collection of the balance due from both of you until the end of the collection period.

1 responses:

Dean Lee February 27, 2008 at 7:58 PM  


My name is Dean. I enjoy your blog. I recently started my own blog. A travel blog, actually. I noticed you were submitting your blog to digg without much success. I've had the same problem. Digg is a very difficult site to break into. Since there are other bloggers in the same boat with the same leak I figured I’d start a google group for bloggers and once enough members join, we can all start digging each other's submissions and everyone will get more traffic. If this sounds like something you would be interested in, email me back at deanlee81@gmail.com and I'll link you to the group. If not, no worries. Have a good one!


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