Refund Rights for Taxpayers Act This bill amends the Internal Revenue Code to: (1) extend the statute of limitations for making a claim for a credit or refund for the overpayment of any tax, and (2) shorten the statute of limitations for a collection after the assessment of any tax. (Under current law, the statute of limitations for making a claim for a credit or refund is three years from the time the return was filed or two years from the time the tax was paid, whichever period expires later. If no return was filed by the taxpayer, the limit is two years from the time the tax was paid.) The bill extends this limit to seven years from the later of the time the return was filed or the tax was paid or, if no return was filed, seven years from the time the tax was paid. With respect to the statute of limitations for a collection after the assessment of any tax, the bill decreases the limit from 10 years to 7 years after the assessment of the tax.