IRS Management for an Innocent or Hurt Spouse
One of the last things on a couple’s minds when they first meet, fall in love, and decide to wed is taxes. Imagine filing your first set of taxes as a married pair and learning that your partner owes the IRS thousands of dollars. Some folks don’t realize this until a long time after filing. They might be anticipating a tax return and instead get a letter informing them that the money was used to settle an old obligation. Unfortunately, practically immediately after getting married, a spouse may become responsible for paying the debts of another individual. The IRS views checking the status of your future spouse’s tax filings as a personal duty. Most regular individuals wouldn’t think to do this. Download this to have some important knowledge.
You always have a choice
It is assumed that the partner considers the debt as their own once those taxes are filed jointly. This can range from liens placed against a bank account to the taking of assets that belonged to the innocent spouse at the outset. For those who are not accountable for their spouse’s tax burden, there are fortunately some solutions. The IRS is willing to make some accommodations if you married someone who failed to file taxes or did so incorrectly several years before you even met them. The last thing you want to do after receiving the letter is to cry over it. the faster you act on this, there better the chances of getting the relief gets. One can always choose to have the advice of experts who have been dealing with such issues for years. You can learn more about some of your alternatives by meeting with a tax expert or talking to a taxpayer advocate. Personal research is a great place to start as well.