For some the only hope of relief from unmanageable federal tax debts may be the statute of limitations on collection. In theory, the IRS has only 10 years from the date of assessment to collect. However, this 10-year limitation has many exceptions, waivers and overlapping extensions such that in all but the simplest of cases computing the correct “collection statute expiration date” is quite difficult.

There is a way to make tax liens disappear from your credit reports completely, and quickly, though. Unfortunately, not all taxpayers who are dealing with this problem know about it.