Question

Is there a credit due for a settlement on back due taxes due for 2016 paid in 2019?

I paid $1139.52 for taxes, interest, and penalities to the IRS for back taxes. Is there any credit for this?

Employee

No.

Employee

Is there any credit for this?

No. Federal taxes owed and paid for a prior tax year, including interest and penalties, is not reported on nor deductible on a federal tax return.

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