What are the Time Limits to Claim a Tax Refund

As with most rules and regulations, there is an IRS statute of limitations on tax refunds from the IRS. According to the IRS statute of limitations and under section 6501(a) of the Internal Revenue Code (Tax Code) and section 301.6501(a)-1(a) of the Income Tax Regulations (Tax Regulations), the IRS has:

• Three years to issue a tax refund / you have three years to claim a tax refund (only fair right – at least something is fair with this horrendous tax code America has fabricated)
• Three years to audit tax returns
• Ten years to collect tax dues and tax lawyers are well aware of this

Legal tax help is right around the virtual corner with http://tax-lawyers.usattorneys.com/. If you need a tax lawyer take the initial step and call one of them. Your situation can become even more complicated if you do not get this under control. 

Claiming a Tax Refund

If your due date is April 15^th, 2014 for your 2013 tax return, you have until April 15^th, 2017 to file your tax return for 2013 to obtain a refund. However, you will not be eligible for a refund if you file your 2013 return after the three year limit.

IRS Audit on Your Tax Return

The IRS has the right to audit your tax return for 3 years from the last date of filing, which is April 15^th, irrespective of the fact that you may have filed your returns before the due date. While the 3-year time limit holds well, the IRS has the right to conduct an audit after the limit in case they suspect any tax fraud.

IRS Collecting Your Tax Liabilities

The IRS has ten years to collect your tax liabilities, which includes penalties and interest. Your total tax liability could be from:

• Outstanding balance on a tax return
• Balance determined after an IRS audit
• A proposed assessment that has been finalized

While these limitations do exist, it is prudent to file your tax returns as early as possible. This gives you the opportunity to claim refunds and be eligible for tax deductions that will save you time and money as well. If you have questions about this, contact a tax lawyer.

When the IRS Statue of Limitations does not Apply

• The statute of limitations does not apply if you file a false tax return
• File a fraudulent tax return
• If there is substantial omission of 25% or more of your income

If you have any doubts on when the statute expires on your tax bill you can request the IRS for a Record of Accounts (ROA) for each tax year that you owe. If you have a problem paying the tax immediately, you may be eligible to put your returns on hold by applying for a ‘temporary hardship’ status. There are several other options such as the Offer-in-Compromise.

Each day a large number of people realize they have problems with the taxes which require them to look for help outside the IRS. There are a number of organizations with consultants who understand the IRS system very well. They can help both individual taxpayers and business taxpayers with IRS tax problems. They help make certain that a taxpayer does not have to pay any unnecessary IRS penalties or liens or levies. Many of these companies have consultants that are former IRS employees and help with nearly any tax problem.

Most Americans pay more taxes than they should. When you combine this with all the other aspects of life that you have to pay for which no American generation in the past has had to deal with, you do not want to lose any more money to the IRS than you should. Their lavish retirement package is already a detriment to the tax payer.

When seeking help with IRS tax problems, it is integral for taxpayers to get in touch with organizations or tax lawyers that can be trusted with the process. When looking for available tax relief options such as an Offers in Compromise or an installment agreement, it is imperative for taxpayers to have the support of a legal tax professional. You need the assistance of a tax lawyer since you need advice on federal tax collection procedures.