Law Erases Statute of Limitations on Your Federal Debt

[kiffertom]

Law Erases Statute of Limitations on Your Federal Debt

Source: http://www.nbcchicago.com/investigations/us-treasury-irs-statute-limitations-tax-grab-208436421.html#ixzz2VFnkxzfZ

[gunDriller]

Law Erases Statute of Limitations on Your Federal Debt

Source: http://www.nbcchicago.com/investigations/us-treasury-irs-statute-limitations-tax-grab-208436421.html#ixzz2VFnkxzfZ

Cliff notes - if the IRS makes a mistake, it's your fault.

[madfranks]

Buried deep inside a massive piece of legislation passed by Congress sits a little-noticed passage that, with few exceptions, wipes out any statute of limitation for a debt owed to the federal government.

Thanks to the "Food, Conservation and Energy Act of 2008," anyone overpaid by a federal agency, at any time in their life, can now be tracked down and put on the hook for debts that are decades old.



I imagine it's very hard to prove or fight against allegations of debt owed that are decades old. What this really means is that if they say you owe it, you have no repercussions and must pay. Good deal for them, and once again, bad for the taxpaying american.

[Ares]

I imagine it's very hard to prove or fight against allegations of debt owed that are decades old. What this really means is that if they say you owe it, you have no repercussions and must pay. Good deal for them, and once again, bad for the taxpaying american.

Most people would call that theft. But if it waves a government banner it's ok.... :-/

[palani]

Forgiveness is not an emotion that will ever thaw a bankers heart.

[gunDriller]

maybe, when the IRS says you don't need to keep records older than 7 years, that is self-serving advice.

i tend to keep old files because it's easier than going through them.

but then i end up with A LOT OF JUNK.

if i had more $$$ i'd pay someone to scan it all into the computer.

[PlatinumBlonde]

Forgiveness is not an emotion that will ever thaw a bankers heart.

Got to have a heart in the first place..

[drafter]

Who is Joseph Stack??

http://en.wikipedia.org/wiki/2010_Austin_suicide_attack


I can see things like this becoming common again if they push this sort of stuff.

[Twisted Titan]

This is why you keep physical wealth in easy reach.

So when insanity like this becomes common place.

Its easier to flip these pricks the bird and start over somewhere fresh.