i have a judgement against me how does that effect my income tax?
I've already tried...
Answers
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I make payments.. am behind but will be caught up before axes are filed. what will happen to my judgement I live in the state of NY?
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Paul Thode has many years of experience preparing taxes. In addiion he has many years of accounting experience, ranging from Assistant Controller to Chief Financial Officer of a publicly traded company. He has a Bachelors in Managerial Economics from the University of California, Berkeley. He has a Master's in Accounting from Golden Gate University. He has an MBA in Finance from Golden Gate University. View Profile
I might depend on what the judgement is for, but as a rule judgments have no impact on a tax return.
If the judgement is for some things, like unpaid state/federal taxes or child support, what might happen is your refund might be taken to pay off these type of judgments.
Good luck,
Paul
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