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.
When the IRS processes your tax return and approves your refund, you can see your actual personalized refund date. Even though the IRS issues most refunds in less than 21 days after we receive your tax return, itâs possible your tax return may require additional review and take longer.hen the IRS processes your tax return and approves your refund, you can see your actual personalized refund date. Even though the IRS issues most refunds in less than 21 days after we receive your tax return, itâs possible your tax return may require additional review and take longer.