Claiming Home Mortgage Interest You must itemize your deductions on Form 1040, Schedule A to claim mortgage interest. This means foregoing the standard deduction for your filing statusâit's an either/or situation. You can itemize or you can or you can claim the standard deduction but you can't do both.
The IRS has a 10 year period of time in which to collect back taxes. After that ten year period of time, the back taxes drop off the tax data base and the debt is legally forgiven and can never be collected. The federal tax liens are also released by statute.
The IRS can take as long as it needs to in order to properly verify that you are owed a refund. If they don't send your refund within 45 days after April 15 or 45 after they r â¦ eceive your return (whichever is later), they will pay interest.(The interest is taxable.). 17 people found this useful.he IRS would probably hold your check anywhere from 2 1/2-3 weeks. I know, it sucks but everyone knows that the IRS just HAS to have their money to.