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 time period (called statute of limitations) within which the IRS can collect a tax debt is generally 10 years from the date the tax was officially assessed. For most cases, the IRS has 3 years from the date the return was filed to audit a tax return and determine if additional tax is due. The time to audit taxes can be extended. The time period (called statute of limitations) within which the IRS can collect a tax debt is generally 10 years from the date the tax was officially assessed.