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.
They make every effort to let the person pay back taxes in installments, but, should that person goof off and not make any attempt they will find their butts in court. They can go back 7 years (Statute of Limitations). Some 8 plus years ago I watched a program on the IRS. They were so cold-blooded many people turned to suicide because they lost everything and many people ended up out on the street. The poor really got the worst of it.