What is the IRS statute of limitations and will your tax debt be forgiven after 10 years?

“Does IRS debt ever go away?” is a common question for many people who are worried if they can ever get rid of their tax debts. What many taxpayers don’t know is that the IRS has a limit on when they can collect taxes and after this time, the debt cannot be legally collected anymore. …

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Can you inherit debt from your parents? Who’s responsible after their death.

It’s quite common for Americans to die with some debt in their names. Based on 2016 data from Experian, it’s estimated that Americans die with an average debt of $61,544. Not taking into account their mortgage debt, the average falls to $12,875. Credit card debt is the most common type of debt of Americans who …

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