Social Security, Treasury target taxpayers for their parents’ decades-old debts(washingtonpost.com)
washingtonpost.com
Social Security, Treasury target taxpayers for their parents’ decades-old debts
http://www.washingtonpost.com/politics/social-security-treasury-target-hundreds-of-thousands-of-taxpayers-for-parents-old-debts/2014/04/10/74ac8eae-bf4d-11e3-bcec-b71ee10e9bc3_story.html
2 comments
It varies by state. Anywhere from 3 to 10 years (for non-IRS collections) depending on the type of agreement.
According the the article: " the result of a single sentence tucked into the farm bill lifting the 10-year statute of limitations on old debts to Uncle Sam."
So apparently, no there is no longer a similar period in the US.
If they don't have proof of the debt. Then what is triggering them to collect? How do you collect money that you don't even know is owed to you.
Question: In EU countries debts expire after 3 or 5 years, if no party claims them. It is not possible to remember and start collecting 10 years old debts. Is there similar period in US?