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#2
03-02-2006, 06:13 AM
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 Re: Back Taxes havasubkl wrote: - quote - > Hi paid back taxes in 2005. Can I deduct penalties and
It doesn't matter what Hi did in 2005. Neither he nor you> interest? may deduct penalties and interest. ChEAr$, Harlan Lunsford, EA n LA << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#1
03-02-2006, 05:54 AM
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| Re: Back Taxes "havasubkl" <william.lane[at]ngc.com> wrote: - quote - > Hi paid back taxes in 2005. Can I deduct penalties and
Penalties, no. Interest, no, unless a business tax was> interest? involved. On your Federal return you can deduct state taxes paid in the year you pay them, but again, just the tax. -- Phil Marti Clarksburg, MD << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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03-02-2006, 05:54 AM
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| Re: Back Taxes havasubkl wrote: - quote - > Hi paid back taxes in 2005. Can I deduct penalties and
No.> interest? << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
03-01-2006, 07:37 AM
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| Back Taxes Hi paid back taxes in 2005. Can I deduct penalties and interest? << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| back, taxes |
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