A spouse usually signs joint tax returns with the knowledge to face the due tax, penalties, and interest accompanying the tax return. According to the IRS (Internal Revenue Service),...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/31/2022
The Internal Revenue Service (IRS) generally holds that both signatories of a joint tax return are individually liable for the total amount of tax owed, plus penalties and interest....
Posted by Abundant Wealth Planning LLC on 02/28/2022
Joint filing has its benefits, and that is why most couples opt for it. But, just as there are benefits to filing jointly, it also comes with its downsides. This often takes the form...
Posted by Rosovich & Associates, Inc. on 12/18/2021
If you want to avoid extra taxes, penalties and interest due to the error or crime of your partner, an innocent spouse can help you. This article will explore essential things to follow. When...
Posted by Income Taxes and Bookkeeping LLC on 10/24/2021
On May 15, 2002, President Bush signed a No FEAR Act (Notification and Federal Anti-Discrimination and Retaliation of 2002). This law entered into force on October 1, 2003. The main...
Posted by Dennis Jao on 09/26/2021
A joint tax filing return makes both parties responsible for the tax bill. It removes the need to foot additional tax debt with an innocent spouse relief if your partner or ex-partner...
Posted by CORE PERFORMANCE on 05/06/2021
On joint tax returns, both taxpayers are generally responsible for the tax bill. But innocent spouse relief is one way to avoid paying the additional taxes you may owe to the IRS if...
Posted by Tiffany Gaskin on 01/30/2021
A spouse is said to be injured if, after filing jointly with the partner, the refunds were seized due to a debt collected by either Uncle Sam or BFS (Bureau of Fiscal Services).Most...
Posted by Accurate Books And Tax on 01/22/2021
A particular problem often arises when one spouse feels that he or she has been unfairly affected by the other spouse's tax liability. Married taxpayers who file a joint income...
Posted by Carmen Garcia on 08/20/2020
