• Business
  • Crypto
  • Investing
  • Lifestyle
  • Money
  • Glossary
    • A
    • B
    • C
    • D
    • E
Search
Finance Reference
  • Business
    • Reasons Business Owners Should Invest in Insurance
      The Role of a Business Bank Account in New Ventures
      Email marketing: 8 mistakes you should avoid
      Derivatives’ Significance in Managing Risk within the Oil Trading Industry
      Keys to Successfully Entering the Security Guard Industry
  • Crypto
    • 5 Ways to Know the Right Time to Invest in Ethereum
      Tips To Avoid Crypto Casinos Scam
      Bitcoin at 30K – Evolution and predictions
      Understanding Ethereum Nodes and Cryptocurrency Network Infrastructure
      The Crypto Trader – How Anyone Can Trade Bitcoin and Other Cryptocurrencies
  • Investing
    • Selling stocks in the fall: timing and tactics for a smart investment strategy
      TU Experts Choose Forex Trading Best Broker In 2023
      Yum China unveils new growth-oriented strategy, more ambitious financial targets at Investor Day event
      Essential Insights from Kavan Choksi on Why China’s GDP Growth is Slowing Down
      5 Budget-Friendly Tips to Set Up Your First Trading Day
  • Lifestyle
    • Peak Performance Secrets: How to Fine-Tune Your Mental Focus
      6 Ways You Can Handle Different Diabetes Issues
      How do I know if a cigar is bad?
      Strategies to Improve Your Chances of Winning at Online Casinos
      Discover the Best Payment Options for Online Slot Games
  • Money
    • Personal Loans: What Are They and What Can They Be Used for?
      Online Casinos That Accept Discover Card: Your Path to Financial Entertainment
      The Best Payment Methods at Australian Online Casinos
      Comparing Credit Cards, Tips and Tricks for Consumers
      Crack the Code – Mastering the Art of Budgeting
  • Glossary
    • Oculus Gift Card
      The Perfect Gift for Gamers – The Oculus Gift Card
      walgreens Cash Checks
      Does Walgreens Cash Checks In 2023? Complete Guide
      How Many Nickels Make $2?
      How Many Nickels Make $2? A Quick Guide
      Visa Provisioning Service
      What is the Visa Provisioning Service on My Bank Statement? Explained
      Fix vs Trunk Club
      Comparing Stitch Fix vs Trunk Club: Which Subscription Box is Best for You?
      AllABCDE
  • Glossary
  • B

Back Taxes

By
rjonesx
-

Definition

Back taxes is a term for taxes that were not completely paid when due. Typically, these are taxes that are owed from a prior year.


Back Taxes

What is ‘Back Taxes’

Taxes that have been unpaid in the year that they were due. Taxpayers can have unpaid back taxes at the federal, state and/or local levels. Back taxes accumulate interest and penalties on a regular basis.

Explaining ‘Back Taxes’

Unpaid back taxes can be a serious issue for many taxpayers who don’t have the means to pay them. The Internal Revenue Service (IRS) has recently turned over the collection of unpaid back taxes to a private collection agency. Taxpayers who lack the means to repay taxes may often negotiate a lesser settlement via an offer in compromise with the IRS either directly or through a tax attorney.

Further Reading

  • An equilibrium analysis of debt financing under costly tax arbitrage and agency problems – www.jstor.org [PDF]
  • The economics and politics of tax increment financing – onlinelibrary.wiley.com [PDF]
  • Offshore pariahs? Small island economies, tax havens, and the re-configuration of global finance – www.sciencedirect.com [PDF]
  • Repatriation taxes, repatriation strategies and multinational financial policy – www.sciencedirect.com [PDF]
  • Globalisation and developing countries–a shrinking tax base? – www.tandfonline.com [PDF]
  • Equity and entrepreneurialism: The impact of tax increment financing on school finance – journals.sagepub.com [PDF]
Previous articleBalance Sheet Reserves
Next articleBear Market
rjonesx

RELATED ARTICLESMORE FROM AUTHOR

Oculus Gift Card

The Perfect Gift for Gamers – The Oculus Gift Card

walgreens Cash Checks

Does Walgreens Cash Checks In 2023? Complete Guide

How Many Nickels Make $2?

How Many Nickels Make $2? A Quick Guide

EDITOR PICKS

FAAMG Stocks

Should I invest in additional life coverage?

Earnings Before Tax (EBT Formula)

Obsolete Inventory

SPX vs SPY: Which is Better for Trading Options on the S&P 500?

Per Stirpes vs Per Capita

Latest

Echoes of the Past: Understanding Stock Market Trends through Historical Analysis

The ABCs of Finance: Tips for Financial Success

Peak Performance Secrets: How to Fine-Tune Your Mental Focus

Personal Loans: What Are They and What Can They Be Used for?

Why You Need to Hire a Lawyer if You’re Looking for Compensation

Selling stocks in the fall: timing and tactics for a smart investment strategy

  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • K
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • X
  • Y
  • Z
  • About
  • Accessibility
  • Privacy
  • Sitemap