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.
Generally, the statute of limitations for the IRS to. taxes on a taxpayer expires three (3) years from the due date of the return or the date on which it was filed, whichever is later.A return is considered to be filed on the due date of the return if it was filed on or before its due date.ownload article as a PDF. The IRS statute of limitations on action for back taxes depends on a few factors. The primary factor is whether a tax return was filed or not. The next question is how accurate (or inaccurate) the return was.