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It depends. If a tax lien is filed then all your creditors will be notified and it will appear on your credit report since tax liens are public record. Then you may not be able to open new credit card, get mortgage, rent an apt and etc. If the tax debt is not resolved in time, IRS can levy your wage, bank account, retirement account and take the money to pay for the back taxes. If you have any other questions about unpaid taxes, you can visit our website "safeharborfc.com" or call our toll-free 877-485-8272.
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∙ 12y ago
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Can you get federal student aid if your parents owe back taxes?
Yes. Just because they owe back taxes, doesn't mean that it will affect your student aid.
Can you get a VA loan if you owe federal income taxes?
i just found out that i had to pay back this year for federal taxes i just madew an offer and it was aceppted so is can i still get my va loan for a house i was already pr quailtfied by my lender before i did my 2012 taxes
You owe 50000 can you surrender cash value on your life ins?
You owe 50000 you can surrender the cash value of your life insurance. This may result in federal and state income taxes where applicable.
If you have Life insurance and die and owe state taxes and federal taxes do they take there money first or is that debit wiped out?
Yes , because there is an inheritance tax ; check with a lawyer for more precise information .
You withdrew 11000.00 from your 401k and paid a 10 penalty how much more will you owe?
State & Federal income taxes on $11,000 in the year the distribution was taken.
Can fed take my taxes if i owe state?
if i owe federal taxes will they take my state refund
If you took IRA distributions and you owe taxes this year is there a penalty?
This could be very possible.
What will happen if you file the current years taxes and owe for back taxes?
You will have to pay a fine. And pay all the money back that you owe.
How do you find out if you owe federal taxes?
http://wiki.answers.com/Q/How_do_you_find_out_if_you_owe_federal_taxes"
How much do i owe in taxes if i made 20000 for the year?
The amount of taxes you will owe if you made $20,000 will depend on your deductions. On average, expect to pay about 20 percent of your pay in federal taxes.
Why would you owe taxes?
As far as federal taxes owed for earning a wage in the United States; anyone who has made over $8000.00 on a tax year has to file a tax return an in most cases will owe taxes to the government.Earning wages will cause you to owe taxes.
Can you get federal student aid if your parents owe back taxes?
Yes. Just because they owe back taxes, doesn't mean that it will affect your student aid.
Do they garnish both state and federal taxes for back child support?
If you owe back child support then both state and federal taxes can be intercepted.
Can the state withhold federal income taxes if you owe welfare?
Your state can flag your account to withhold your federal refund in order to meet a debt owed;however, in general, your state,they can only take your taxes if you owe on a student loan, have back child support, or owe taxes. I guess you need to contact Dept of revenue of your state.
Do you have to file federal and state taxes?
It depends. If you owe money to the government, then yes. Otherwise, no.
If you owe Maryland taxes can they take your federal return?
Yes they can! They will offset your federal return if you do not address any debts from that state.
Can your federal taxes be taken because of a school you owe?
go ask your great grandma in heaven.
