What does Back Taxes mean?

Back Taxes meaning in Finance Dictionary

fees having not been paid regarding the deadline or were underreported either accidentally or by intention on a past tax return. The income tax authorities can need repayment of straight back taxes plus a penalty and/or interest.

Back Taxes meaning in Law Dictionary

Those examined for a previous 12 months or years and continuing to be because of and unpaid from the original income tax debtor. M. E. Church v. brand new Orleans, 107 La. 611. 32 Southern. 101; Gaines v. Galbraeth, 14 Lea (Tenn.) 363.

Back Taxes meaning in Business Dictionary

fees that have been not paid when because of. This behavior can be achieved unintentionally (made an error whenever filling in your taxes) or deliberately (taxation evasion). Dependant on the circumstances, the us government might take among the many strategies to deal with straight back fees, such pushing fees, demanding which you pay instantly, or sometimes providing a voluntary disclosure system that will help stay away from unlawful charges and allows many different payment options.