Garnishments and Levies
STATUTE OF LIMITATIONS ON IRS/STATE TAX DEBT
Generally, there is a 3-year statute of limitations for the federal Internal Revenue Service to audit a tax return and a 10-year statute of limitations for the IRS collecting tax. States right, however, may be very different. The State of California, for example, has NO statute of limitations on the collection of back taxes. Under [...]
COGNOVIT NOTE AND JUDGMENTS
A “Cognovit Note” is an extraordinary document by which a debtor (one who owes money) enters a confession in court that allows a legal judgment against the debtor in the favor of his or her creditor (the person who is owed money). Generally speaking, a cognovit note is a confession of judgment given to a [...]