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Running of the statute of limitations

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RUNNING OF THE STATUTE OF LIMITATIONS. A metaphorical expression, by which is meant that the time mentioned in the statute of limitations is considered as passing. 1 Bouv. Inst. n. 861.



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This starts a suspension of the running of the statute of limitations on collections until such time as the OIC is either accepted or rejected (and if the OIC is rejected but the taxpayer appeals that determination, the suspension continues).
If ruling protection is not available under the Notice's standard consent process, TEI said, "at a minimum, ruling protection should be accorded either upon examination of the change in method or upon the running of the statute of limitations for the year of change.
Admitted to practice: 1988) Winslow's inattention to two personal injury cases filed on behalf of a client resulted in the running of the statute of limitations on her claims.
 
 
 
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