I. Introduction Taxpayers need to know about the IRS Statute of Limitations to make sure they follow tax laws and avoid penalties or interest. This detailed guide is meant to give useful information about this subject and help taxpayers understand the complicated tax system. Best Tax Relief CompaniesRead Reviews – Compare Prices – Save Money II. Definition of the IRS Statute of Limitations The IRS Statute of Limitations sets the legal time frames for tax-related actions such as assessment, collection, and refund claims. After the expiration of the relevant statute, the IRS loses its legal authority to assess taxes and…