LEVY AND FORGIVENESS

[Possi]

Does anyone have experience with levy forgiveness? My client owed taxes 8 years ago, and will never have the money to pay it. He is working with the IRS who told him years ago, that if he kept his tax returns current for 10 years, they would forgive the debt.

Does that mean they lift the levy on him, too?

[Lynn EA USTCP in Louisiana]

10 years after assessment date, the IRS debt falls off the books and disappears.

 

[Possi]

15 minutes ago, lynn EA in Louisiana said:

10 years after assessment date, the IRS debt falls off the books and disappears.

 

Levy and all.... thanks.

 

[Lynn EA USTCP in Louisiana]

That's the general rule.  It could be longer if there are some actions to prolong it - installment agreement requests, OIC requests, bankruptcy stays.