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 usually issues 9 out of 10 refunds in 21 days or less. This means that you can generally expect your funds to arrive in no more than three weeks after your tax return has been filed. However, keep in mind the IRS tax refund schedule dates are an estimation and is not set in stone. Sometimes there are delays, which may cause your refund to take longer than 21 days to reach you. It is recommended that you E-File because it will process quicker and you should receive your return within three weeks.