The Holdings Calculator permits you to calculate the current value of your gold and silver. 1  Enter a number Amount in the left text field. 2  Select Ounce, Gram or Kilogram for the weight. 3  Select a Currency. NOTE: You must select a currency for gold first, even if you don't enter a value for gold holdings.
After the debt is put on the IRSâs books (assessed), the IRS has 10 year to collect the tax debt from you. The legal reference is Internal Revenue Code 6502(a)(1). During those 10 years, the IRS can levy your wages, your bank account, or take your property (possible but unlikely).
Option #3 - IRS Partial Payment Installment Agreement (PPIA) With a PPIA, you pay the IRS a low payment, but it will not pay off the debt within 6 years or perhaps even longer. You may think Great, then I will owe the IRS forever!. But this is not true. The IRS has a limited amount of time to collect on a tax debt.