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).
The general rule, there is a ten-year statute of limitations on IRS collections. For 90% of all taxpayers the tenure statute of limitation of 10 years will probably be the rule of thumb. The main the exceptions to the rule that extend the statute of limitations you will find below. We have over 65 years of professional IRS work experience and are experts in determining the dates of assessment and the point in time in which IRS will forgive a tax debt. This 10 year peroid begins from the date of the assessment.