Married people can file jointly or separately, depending on several life factors. However, unmarried people (not married by the last day of the tax year) who don't qualify for...
Posted by Rosovich & Associates, Inc. on 06/15/2023
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
People that are not married and do not qualify for other filing status have the single filing status as their default tax status. Your filing status affects many things like the...
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...
Community property is a type of joint ownership of property between couples. With some variation between states, all property acquired or purchased by a couple during the marriage...
An overview of the issues of spousal liability in the world of income tax.John and Jane divorced after five years of marriage and two children. Jane got the children, the house, and...
Couples living in a community property state own their marital properties, income, and assets jointly. If you earn around $75,000, the income is yours as much as it is your spouse....
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
The newly signed Tax Cuts and Jobs Act (TCJA) may have made huge changes to how your income is taxed, but the choice of how you file your return remains the same. Taxpayers are still...
Posted by rinehimerbaker on 11/30/2018