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DanielleCPA
DanielleCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 714
Experience:  Years of Experience in Business & Personal Taxes
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Can I write off 2010 taxes paid for in payments during 2011

Resolved Question:

Can I write off 2010 taxes paid for in payments during 2011 on my 2011 taxes?
Submitted: 2 years ago.
Category: Tax
Expert:  DanielleCPA replied 2 years ago.

DMC :

Hi and welcome to Just Answer! I'm happy to help with your tax questions. Feel free to interject at any time if you need clarification.

DMC :

If they are state income tax payments, yes. So, if you made payments to Indiana in 2011 (no matter what tax period they relate to), you can deduct as an itemized deduction on your 2011 federal Schedule A.

Customer:

I am speaking of Federal taxes. After an audit I owed in excess of $20K and I am making monthly payments. Can I write off those payments on my Federal return for the subsequent years until paid off?

DMC :

No, federal taxes are not a deduction on your federal return.

DMC :

Additionally, as you may be aware, if you overpaid your taxes this year (and any future years until the $20K is paid off), the IRS will not give you a refund, they will apply the overpayment to the balance you owe.

Customer:

So then if I pay $10K this year toward my 2010 taxes, I am also taxed on that income...

DMC :

You are not taxed on it, it just is not a deduction.

DMC :

Federal taxes are never a deduction.

Customer:

Ok now I'm really confused... I have a 1099 stating $50K in income, I used $10K to pay taxes from 2 years ago... how do I reduce my taxable income for that $10K?

Customer:

Sorry... 2011 taxable income

DMC :

You can't reduce your 2011 taxable income for payment of back taxes.

DMC :

It's not a deduction.

Customer:

Ok.. then I am taxed on it.

Customer:

Thank you... you confirmed what I feared to be true.

DanielleCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 714
Experience: Years of Experience in Business & Personal Taxes
DanielleCPA and 5 other Tax Specialists are ready to help you

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