Missouri | Tax Law
Legal Question
What is the statuate of limitations on past due tax, interest and penalties owed
MY company has paid all back 940/941 taxs due from previous years and previously submitted an ''offer and Compromise'' which was returned to us neither, rejected nor accepted. We now have a lien against our business and feel that the IRS must be concerned about statuate of limitations on these past due penalties and interest. A revenue officer stopped by my place of employment. This is for penalties and interest going back to 1996, 1997 and 1998. I re-financed our business in 2000 and paid all taxes and tried to negotiate a settlement through the offer and compromise process. How long does the IRS have to pursue a company and what type of discount could I negotiate, if any.
Thanks,
Perplexed
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Read More Answered By: Burton Haynes |
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