back taxes

Back taxes

Due taxes that have not been paid on time.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

back taxes

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

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Dulay told reporters Thursday that the new notice letters issued this month by the BIR were on top of the earlier P4 billion in back taxes that the BIR had tried to collect in May.
He started the firm to help people who owed back taxes to the IRS negotiate affordable payment arrangements to settle their tax debts.
News, it was reported that Braxton owes nearly half a million dollars in back taxes. The records also showed that last month, the Internal Revenue Service (IRS) filed a lien against her, for nearly USD 340,200 in back taxes for 2017 and that the State of California Franchise Tax Board also filed a tax lien against her for over USD 116,100.
Trapani also had to pay $600,000 in back taxes to take title to the property, which he initially plans to convert into a truck repair and storage facility.
Coca-Cola is suing the Internal Revenue Service over a $3.3B bill for back taxes arguing the agency previously approved the company's method for setting transfer prices for foreign affiliates in a 1966 agreement but later withdrew the approval and issued the bill, Reuters reports, citing the case.
With tax season underway, the Maryland Volunteer Lawyers Service, along with the University of Baltimore School of Law and University of Maryland Francis King Carey School of Law, is hosting an Offer-in-Compromise Day next month to assist Marylanders who may owe back taxes. OIC is a program that allows people to offer the IRS an amount he or she can afford to pay in exchange for dropping the amount owed in back taxes.
Summary: Apple has reached an agreement with the European Union to pay $15.4 billion in back taxes it was ordered to …
Indonesia plans to pursue Alphabet Inc.'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.
IT'S beyond belief the Government is trying to stop Apple from having to hand over up to [euro]19billion in back taxes.
The French government has demanded that Internet search engine Google pays EUR1.6bn 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.
Of course, back taxes almost always lead to tax problems and IRS audits, so local taxpayers need a reliable tax lawyer they can turn to for help.
The sale, to be held Wednesday, is of properties where back taxes are owed.