debt limitation
Statute of limitations of CO tax debt: what is it and should I waive it?
I’m trying to set up a payment plan for my 2003 CO state taxes, and in order to set the payment plan up, I have to sign a paper that says: “I agree to the terms of this AGREEMENT TO PAY and by doing so, I waive the statute of limitations for the collection of this debt.”
What does that mean? What is the statute of limitations? It doesn’t sound like I should sign. Please give me info!
Doesn’t sound like your going Thur with the IRS, some private collection company..don’t sign, and every state has a limit on how long they can pursue a debt, (not IRS debt), the irs will work out payments for you, go on the computer and search “Statute of Limitations” and you’ll get a website that shows the yearly limits of each state..becarful what you sign..
