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.
How you file your taxes, via either U.S. mail or electronic filing, dictates how long it normally takes to receive a refund. Filing a return through the mail is, of course, the slower of the two processes. For those who mail their federal return, the IRS will remit a tax refund within six weeks after they have been received the completed return. If you file electronically, you should receive your tax refund within three weeks.