Many taxpayers are familiar with the IRS’s 10-year collection statute and assume California follows the same rules. Unfortunately, that is not always the case.
If you owe taxes to the California Franchise Tax Board (FTB), the state’s ability to collect may last significantly longer than you expect.
The IRS and FTB Play by Different Rules
The IRS generally has 10 years from the date a tax is assessed to collect the liability. While certain events can extend that period, many taxpayers have heard of the IRS collection statute and assume it applies across the board […]