back taxes

Back taxes

Due taxes that have not been paid on time.

Back Taxes

Taxes that an individual or corporation did not pay in a given year. Back taxes incur interest and penalties that add up quickly. The IRS allows for plans to pay back taxes over time, though they continue to accumulate interest in the interim.

back taxes

Unpaid property taxes,which remain a lien on property even after it is sold to another; could result in a forced sale.

References in periodicals archive ?
Potential buyers of Walmart's Brazilian operations have estimated the business owes up to $3B in back taxes to state governments, Reuters reports, citing three people with knowledge of the matter.
They must bring three pay stubs or their last filed tax return and any correspondence from the IRS or Maryland comptroller's office or a bill listing the current amount of back taxes owed.
4 billion in back taxes it was ordered to pay Ireland last year, according to reports.
s Google for five years of back taxes, and the search giant could face a bill of more than $400 million for 2015 alone if it is found to have avoided tax payments, a senior tax official told Reuters.
6bn in back taxes, on the same day that MPs have said that the company's UK back taxes deal for GBP130m is too small, Sky News reported on Wednesday.
When struggling with back taxes and other complex tax problems, many individuals and businesses alike find they require the services of a professional tax relief company.
Kady said the auctions would be an inexpensive way for the town to successfully recoup back taxes, penalties and interest from tax title parcels.
Early last year, amid publicity about Veneta businessman Greg Demers pursuing a railroad venture in west Eugene, it came to light that he owed millions of dollars in back taxes to the state and federal governments.
A Pennsylvania landfill is going to court in an attempt to block a push to have the disposal site pay back taxes, according to a local news report.
CalCPA has since learned that the FTB is retroactively pursuing the recalculated back taxes and interest of individuals who benefited from the tax break dating back to 2008.
People who own up to what they have done could face penalties amounting to just 10% of the tax they have evaded, although they will still have to pay back taxes and interest going back up to 10 years.
The news report said the treasurer of the National Olympic Committee, who was not named, had pledged to pay up any back taxes so the athletes could make it to London.