money sectionmoney sectionThe Florida delinquent property tax process works differently than many those in other states. When taxes become delinquent, a tax sale certificate auction is held. The winning bidder on a tax sale certificate auction only wins the right to hold a lien on the property for the amount of the delinquent taxes, plus interest, for up to seven years. The property owner may pay the amount owed and redeem the property at any time prior to an actual tax sale. The tax certificate holder may then register the property for a tax sale at any time after two years if…
Many individuals and businesses overpay their property taxes each year and don't know it. You can find out whether you have overpaid in your county and apply for a refund. Because different counties have different procedures, you have to contact your county assessor's office or visit the county website to find out how to proceed in your area. However, some guidelines are common to most county offices. Familiarize yourself with the process of obtaining a tax refund from county governments.
People sometimes leave unpaid tax debt behind when they die. This can present some challenges for the executor of the will. Such debt could mean that the federal, state or county government has placed or will place a lien or levy on property. To remedy the situation, you need to reconcile the back tax debt of the decedent.
The newly married expect some surprises but back tax debt is not high on anyone's list of relationship-building couples activities. In fact, learning that tax debt may affect marital finances may raise a lot of questions about who is responsible for paying the bill. A spouse can be held responsible for the back tax debt incurred by the other spouse. Steps can be taken to avoid having the non-owing spouse see her share of a tax refund used to pay off the debt.
Any number of circumstances could cause a taxpayer to delay in filing his income taxes. Fortunately, the Internal Revenue Service (IRS) makes readily available all the resources necessary, free of charge, for taxpayers to provide past returns. The requirements for filing a current year return vary from those that govern filing a past return, however.
Tax time comes once a year, and when it does taxpayers scramble to get everything they need to file their returns. With every tax season, we all hope that our tax return results in a refund once everything is said and done. Keep those fingers crossed for a refund while you wait for your employer to get your W-2 or Form 1099 out to you by Jan. 31. Once you have received these items you will know soon enough if you will get a refund as long as you file before the April 15 deadline.
If you owe back taxes to the IRS, it is important to work out a solution. Fines, fees and penalties can be tacked onto your back taxes and cause financial distress. If you owe back taxes, take action to get out of your financial hole.
If you haven't filed tax returns for several years or for a certain year, it's imperative that you do so. When it comes to tax returns, it's not a question how far back you can file your taxes -- it's how far back you must. By law, you must file a tax return for each year during which you meet specific income requirements.
If you haven't filed a tax return in many years or if you neglected to file a return for a particular year, you have good reason to worry. When it comes to looking for unfiled taxes, the Internal Revenue Service can look as far back in your history as required to make sure that you pay your debt to the federal government.
Many people owe back taxes. Once you are past the tax deadline, any day is a good day to file. According to the IRS website, "The IRS wants to get people back into the system, not prosecute ordinary people who made a mistake." Sharpen your pencils, boot up your hard drive or visit your local tax professional. Who knows? You may even have a refund coming to you.
Hearing the words "IRS" and "audit" in the same sentence may give some people pause. While an audit is always a possibility, there is a statute of limitations for how far back the IRS can audit you, or collect money from you.
