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 IRS has 10 years to collect your income taxes. If they do not collect the income taxes from you within ten years from the date your taxes are assessed, then your tax debt â no matter how much â will be forgiven. The key to this statute of limitations, however, is when your taxes are assessed.