Text Callout : Key Takeaways - Get a Mortgage When You Owe the IRS . Don't assume you can't get a mortgage if you owe back taxes, but be prepared to take some steps to correct the problem.

If you owe less than $100,000 in total, you can set up a plan to give yourself 180 days to pay the balance in full. According to Sorrell, the IRS generally won't record a lien for debts under $10,000.

President Trump repeatedly stated that he wanted to end Social Security benefit taxes, but that's not what the OBBB does.

If you don't pay your balance or make arrangements with the IRS, penalties and interest will continue to accrue. The penalty for failure to pay is 0.5% of the unpaid taxes for 2025, which is ...

You may have to cancel your 2025 travel plans if you owe back taxes. The IRS can take your passport (and home) if you don't pay your tax debt. Kiplinger. Save up to 74%.

That means, for instance, if you received a credit for a $600 stimulus check, but owe $500, you will receive a payment of $100. "It is a tax credit against your 2020 income tax," the IRS said .

If you owe taxes but can’t pay, the IRS still expects you to file or request an extension by April 15. Filing without paying in full is better than not filing at all—penalties start ...

The IRS can't collect most back taxes indefinitely. Here's how long the agency has to collect on money you owe. The IRS can't collect most back taxes indefinitely.

You can file taxes late and, if you were supposed to get a refund, you might still get it. If you haven’t filed for years and you owe money to the IRS, you may be hit with penalties but the ...

If you don’t pay what you owe by April 15, the IRS will begin charging interest — even if you filed for an extension. But those penalties can get much worse if you don’t file at all.

Don't assume you can't get a mortgage if you owe back taxes, but be prepared to take some steps to correct the problem. You'll need to adhere to an IRS payment plan and share the information with ...