The IRS has 10 years to collect your tax debt. The IRS cannot come after you for the debt once the statute of limitations is up.

Yes. You can request an installment agreement if you owe the IRS $50,000 or less. For tax debts payable within 120 days, there are no extra fees. Longer plans have setup fees for payroll deduction or direct debit. Payment plans can last up to 72 months. During that time interest and penalties continue to accrue. 

The IRS imposes serious penalties for tax issues. There are over 150 different civil penalties related to taxes. They cover: 

• filing your tax return late

• not paying your taxes

• sending an incorrect tax return

The penalties can be substantial, from collection actions to wage garnishment and levies on your property.