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Saturday, October 24, 2009

Credit rating for back taxes?

I've been living abroad for many years, and now I plan to return to the US. I have just filed tax returns for the past 3 years, and I'm in the process of paying some back taxes plus penalties. Will this hurt my credit rating? I plan to buy a house soon in the US, and I'm wondering how this will effect me, if at all. Thanks!

Credit rating for back taxes?
If you haven't paid your taxes, the government has most likely has filed a judgment against you, which will show up on your credit report. Once you've all your taxes and penalties, make sure the government issues you a Satisfaction Letter and make sure they change the status of the judgment to Released on your credit report.


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