There are several different SOLs in most all situations. Ones for review/audit, ones for assessment of additional tax and ones for collection. The way the time gets counted is always fairly complex...and many things stop the counting of time (called "tolling")...like the sending of a letter, responded to or not, by the Dept., etc. Once you are in an agreement with them, (and generally once your speaking/negotiatitng with them) the SOL becomes irrelevant of course. (You would want it too, or you couldn't get a plan that would extend past it). The main thing that many asking this have frequently not understood, is that the SOL itself only starts to run once a substantially complete and accurate return is filed. If you don't file a return, it never starts to run and you remain open for all actions perpetually.
As a responsible cardholder, you are generally liable for any credit card debt up to the statute of limitations as established within your state. This does not prevent a debt collector from continuing to pursue older debts, but it does generally prevent judgments on old debts as long as you advise the creditor or court that the statute of limitations has expired. Debt collectors may still pursue debt collection even beyond the statute of limitations.
Depends on the type of tax, but in income taxes, anyplace...the Statute of Limitations for assesment and Collection (normally 3-4 years) ONLY STARTS running when a return has been filed. If you don't file, you remain perpetually liable.
A "statute of limitations" is the time limit a person or company has to prosecute a complaint before the complaint becomes null and void. For example, if the statute of limitations on assault is 1 year and I call the cops after 9 months, then I can prosecute. If I call the cops after 13 months, then I can't prosecute. So in other words, there is no such thing as "being answerable" to a ststute of limitations. A statute of limitations makes a person unanswerable. Perhaps you are thinking of the statute of limitations on a Sears credit card? If Sears brought the original complaint against the card holder before the statute expired, then the card holder is liable. For example, the statute for credit card debt is 7 years. If I charge something on a Sears card and don't pay it back, Sears can wait for 6 years and 363 days to file a complaint. The civil case or repossession or whatever can then be executed more than 7 years after I have made the credit card purchase. The statute of limitations applies to the filing of the complaint -- not the execution of the settlement.
Yes. As far as I know, there's no statute of limitations on immigration fraud.
Depends on the type of tax, but in income taxes, anyplace...the Statute of Limitations for assesment and Collection (normally 3 - 4 years) ONLY STARTS running when a return has been filed. If you don't file, you remain perpetually liable.
Depends on the type of tax, but in income taxes, anyplace...the Statute of Limitations for assesment and Collection only starts running when a return has been filed. If you don't file, you remain perpetually liable.
Yes. The statute of limitations governs how long you remain liable, in the sense that once the statute has expired, a suit by the creditor will be dismissed if the debtor raises the statute of limitations as a defense. In general, the statute of limitations begins to run when you default on the note or vehicle installment sales contract, not when the car is repossessed. Repossession is one remedy available to a creditor who has a security interest, but it is not the only one. Very few notes limit a creditor to a single remedy. In general, the creditor can also bring a suit against you for the balance owed regardless of whether or not the collateral is repossessed. In most states, the statute of limitations will begin to run when you missed enough payments to meet the definition of "default" specified in the contract or note. Relying on the statute of limitations to avoid a debt has its risks. The statute may be "tolled" by a variety of acts. Leaving the state where the debt was contracted, for example, often stops the clock until you return. In many states, making a partial payment sets the clock back to 0, so the limitations period begins to run from the date of the last payment. In some states, merely making a promise to make a payment, even orally, is enough to re-start the limitations period. Technically, when the statute of limitations expires, it does not wipe out the debt, it only prevents the creditor from bringing suit to enforce his/her rights. In theory, he/she or an assignee of the original creditor can continue to dun you forever, even if they can't take you to court.
The Statute of Limitations on medical bills in Oregon is 6 years for patients because medical debts are considered to be a contract between the provider and the patient. When a patient signs a consent for treatment the patient is also agreeing to the terms of payment set by the provider.
It is considered a Recourse loan as the account holder are still responsible for any outstanding balance when the account is closed which has not been challenged for unauthorized use and such. However, the account holder is only liable for the balance as long as the Statute of Limitations (Which varies by region (In the US, from 3-15 years by state from last non-institutional transaction)) remains in effect.
The Oklahoma Tax Commission says, "No." I'm still trying to find an answer in the tax code or in a judgment. 3 years for sales and use (effectively). OAC 710:65-3-32. 3 years for income. OAC 710:50-5-12.
Yes, (presuming you had income and were required to file) and you will be forever...as the statute of limitations doesn't start to run until a return is filed. Of course, if you had income from employment, and hence, withholding, or made so little you quailified for credits or benefits, you probably had money coming back and just screwed yourself anyway.
yes