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  2. Back taxes - Wikipedia

    en.wikipedia.org/wiki/Back_taxes

    The IRS may send written notices regarding back taxes, and usually expects a response in 30–60 days. A penalty fee is issued if the taxes remain unpaid. [5] The minimum penalty fee is $135. Also, one has to pay interest on the unpaid taxes. The interest rate is usually determined by the federal short-term rate.

  3. Trump’s back in office — here’s what to expect for your taxes ...

    www.aol.com/finance/trump-back-office-expect...

    On the campaign trail, Trump promised a variety of tax breaks, including removing the TCJA’s $10,000 cap on the deduction for state and local taxes, and eliminating taxes on tip income, overtime ...

  4. Back Taxes: Is an IRS Offer in Compromise a Good Idea ... - AOL

    www.aol.com/back-taxes-irs-offer-compromise...

    The IRS's announcement that it will raise interest rates on underpayment and overpayment of income taxes means millions of Americans will face yet another cost increase in a year of historic...

  5. IRS Updates Penalties for Late Tax Returns in 2024 ... - AOL

    www.aol.com/irs-updates-penalties-tax-returns...

    In 2024, if your tax return is not filed within 60 days of the due date, you’ll be charged a minimum late-filing fee of $510 or 100% of taxes owed, whichever is lower. 2. Failure to Pay

  6. Taxes: IRS waives penalty for taxpayers with tax bills from ...

    www.aol.com/finance/taxes-irs-waives-penalty...

    The discharge of penalties for 2020 and 2021 back taxes totalled almost $1 billion. ... Another thing impacted taxpayers need to consider is interest, which the IRS did not waive.

  7. The 7 Worst Things You Can Do If You Owe the IRS - AOL

    www.aol.com/7-worst-things-owe-irs-000014898.html

    “The IRS interest rate changes quarterly, but it’s hovered around 8% in recent years,” said Brad Paladini, tax attorney and owner of Paladini Law, a tax law firm. “Credit card interest is ...

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