TaxAudit Blog

Tag: back taxes

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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