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.
Tracking tax refunds is quite the adventure this year. Readers are reporting all sorts of data points in how long it takes to get your tax refund back. Originally the IRS started out with an aggressive one week turnaround on tax refunds for efiled returns. However, once we got started, they announced a one week tax refund delay. But then it got worse and after a few more IRS alerts, the IRS thought that returning to the historical range of 10 to 21 days for tax refunds would work for the majority of filers.