In the first part of this post, we began discussing the issue of past-due tax returns. As we noted, there are several actions the IRS can take against you when you don’t file. These include filing a substitute return and initiating collection proceedings.
Trying to minimize problems by avoiding the subject is a natural human tendency. Virtually all of us do this to some degree in various aspects of our lives.
Tax implications are deeply interwoven into the experience of home ownership. The tax deduction for home mortgage interest ensures that this is the case.