Top Of The Week

Do back taxes ever go away?

In general, under IRC § 6502, the IRS will have 10 years to collect liability starting from the date of evaluation. Once ...

How long does it take the irs to respond to an offer in compromise?

Processing times vary, but you can expect the IRS to take at least six months to decide whether to accept or reject your...

What are irs back taxes?

File all tax returns that are due, regardless of whether you can pay in full or not. File your overdue return in the same ...

What happens if i owe back taxes?

If you don't pay your taxes in full when you file your tax return, you'll receive a bill for the amount you owe. This...

Are back taxes discharged in chapter 7?

Other taxes, such as fraud penalties or payroll taxes, cannot be eliminated through bankruptcy. If you've filed your...

What would be considered a financial hardship?

Financial difficulties may be considered to exist when the debtor substantially needs all of his current and expected...

Recent Posts

What happens if someone doesn't pay taxes for 10 years?

What happens if someone doesn't pay taxes for 10 years?

Unfortunately, those who don't file a tax return on time can be charged with a crime. Penalties can include significant...

Recent Post

When would you have to pay taxes back?

Generally, you'll accrue interest and penalties on any outstanding balance after the April 15 filing date if you don't...

When get taxes back?

Refunds are generally issued within 21 days after your tax return is filed electronically or 42 days after paper returns...

Does filing an extension on your taxes hurt your credit?

The good news is that simply filing an extension or discovering that you owe the IRS an amount of money when it comes to...

Can back taxes affect your credit?

Only when you don't pay what you owe in a timely manner can your credit score be affected. The amount of tax you owe is...

What happens if you go 5 years without filing taxes?

If you haven't filed a tax return in a few years, the IRS will extract your tax documents from those years and use them...

How long can irs go after back taxes?

In general, under IRC § 6502, the IRS will have 10 years to collect liability starting from the date of evaluation. Once ...

Who can help me with irs problems?

As an independent organization within the IRS, the Taxpayer Advocate Service helps taxpayers resolve problems and...

Can back taxes be discharged in bankruptcy?

The debtor must file timely income tax returns and pay the tax. While most taxes cannot be eliminated through bankruptcy, ...

Editors Picks

When tax back?

When tax back?

Refunds are generally issued within 21 days after your tax return is filed electronically or 42 days after paper returns...

Can back taxes affect buying a house?

Can back taxes affect buying a house?

While owning a home is a goal for many people, owing taxes to the IRS can make it difficult to approve a conventional...

What are back taxes owed?

What are back taxes owed?

The concept behind the phrase “back taxes” is fairly simple. Back taxes are taxes due during a particular tax year...

Will the irs work with you on back taxes?

Will the irs work with you on back taxes?

Yes, if your circumstances fit. The IRS has the authority to cancel all or part of your tax debt and reach an agreement...

What tax back can i claim?

What tax back can i claim?

Many people can lose their tax refund simply because they didn't file a federal income tax return. By law, they only have ...

What happens if i miss an installment payment?

What happens if i miss an installment payment?

Breach of your installment payment agreement Technically, failure to pay could cause you to fail to comply with your...