TaxAudit Blog

Tag: back taxes

Woman looking at debt letter

A taxpayer can seek relief from a spouse's tax burden by applying for the Innocent Spouse program or the Injured Spouse program, depending on the circumstances.

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Back Taxes

When a taxpayer fails to file their return, the IRS will come knocking usually in the form of a notice of tax due for back taxes. Back tax help is available.

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Cash, IRS check, and Social Security Card

Taxpayers who are behind on their federal taxes may be surprised to know that their Social Security benefits are ripe for the picking by the IRS.

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Back Taxes

Back taxes are defined as taxes that were not paid in the year they were due. Penalties and interest may also get tacked onto back taxes if they remain unpaid.

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calculator

The fastest answer is how far back do you need to file? How deep do you want or need to dig into your records to get your taxes up-to-date with the IRS?

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Back Taxes sign with a money background

You are ready to begin the process of preparing your back taxes – but you realize your records are lost. Never fear. There are ways to rebuild your records.

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Stimulus Payment

Generally, as long as the incarcerated person is a US citizen (or resident alien), has a valid SSN, and is not claimed as a dependent, they may qualify.

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Paying Taxes Online

There are a bevy of options available to taxpayers who want to make a payment to the IRS online. The IRS even has an app for that!

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Percentage sign with dollar bill in the background

The interest rate charged by the IRS on back taxes is the federal short-term rate plus 3%. The rate is set every 3 months.

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Wage Garnishment written on paper next to calculator

The employer has the job of gathering the information needed from the affected employee to determine the correct wage garnishment amount from the IRS tables.

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Garnishment of Wages written on a notepad

Yes, it is possible to make a deal to keep the IRS from garnishing your paycheck. Making payment arrangements with the IRS maybe all that is needed.

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Man holding sign saying Stimulus Checks

Generally, yes. If you owe back taxes or have a payment agreement with the IRS, you will still receive a stimulus check if you are eligible to received one.

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Back Taxes written on a computer screen

If you owe back taxes, there are options to resolve your back taxes, and TaxAudit can help. Here are a few possible options:

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wooden house and gavel

The answer to this depends on your particular financial circumstances, how much you owe the IRS, and why you owe them money in the first place.

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Money, United States Treasury Check, 1040 Tax Form

If you paid off a prior year state or local tax obligation to your state, you can include these payments as a state tax deduction, subject to the $10,000 cap.

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This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.