Here is the situation, it is April 15th and you have to file your taxes to the government. You are in a hurry and sign the joint tax return without looking it over and then overlook about it. 6 months later you get a notice from the Internal Revenue Service that you owe $20,000 in taxes and you must pay or they will charge your bank accounts. If this sounds well-known then you want to read the rest of this article.
E File your 2014 State Tax Preparation
Unfortunately I have seen the above situation way to often when I meet with a married couple. Often the spouse (usually the husband) is self employed and runs his own business and the wife has nothing to do with the husband's business. The First query out of the wife's mouth is "why am I responsible for these taxes".
Of course the Internal Revenue Service will tell the wife that she is liable for the reason that she signed a joint tax return with her husband. When you sign a joint tax return you are legally responsible and liable for the all the taxes. The IRS can then go after the wife's bank accounts or other assets in order to pay off the delinquent taxes. But what the IRS will not tell you is that there is one exception under the tax laws that may get the wife off the hook for the joint taxes. This one exception is called the "Innocent Spouse".
Prepare Your 2014 Federal Taxes Free and get fast refund
The Innocent Spouse is a particular rule under the tax laws where a spouse can separate their liability for the joint tax debt on a tax return. This means the spouse would not be liable and would not have to pay any of the taxes. But it is very difficult and time consuming for a spouse to meet the criteria for the Innocent Spouse exception.
How to File Tax Extension
For a spouse to effectively qualify for the Innocent Spouse exception they must complete and file Form 8857 and provide several other documents to the IRS. Some of the facts that the service will look at include the following: is the couple married, separated or divorced or are they married but living apart? Did the spouse provide the tax preparer with records or bank statements that were used to prepare the tax return? Did the spouse choose the tax preparer or know the tax preparer? If there is a business involved, did the spouse have any control over the day to day operations of the business? Did the spouse have any control over the financial records of the business? Did the spouse review the tax return before they signed the return? Do the spouses have joint bank accounts or do they have separate bank accounts or was a spouse hiding bank accounts or any other assets.
Vermont State Tax Extension
Dealing with the Internal Revenue Service can be very not easy and expensive for the average person or business. You must be well prepared when dealing with the IRS. The author has over 20 years of experience in productively helping his clients with the IRS.
E File your 2014 State Tax Preparation
Unfortunately I have seen the above situation way to often when I meet with a married couple. Often the spouse (usually the husband) is self employed and runs his own business and the wife has nothing to do with the husband's business. The First query out of the wife's mouth is "why am I responsible for these taxes".
Of course the Internal Revenue Service will tell the wife that she is liable for the reason that she signed a joint tax return with her husband. When you sign a joint tax return you are legally responsible and liable for the all the taxes. The IRS can then go after the wife's bank accounts or other assets in order to pay off the delinquent taxes. But what the IRS will not tell you is that there is one exception under the tax laws that may get the wife off the hook for the joint taxes. This one exception is called the "Innocent Spouse".
Prepare Your 2014 Federal Taxes Free and get fast refund
The Innocent Spouse is a particular rule under the tax laws where a spouse can separate their liability for the joint tax debt on a tax return. This means the spouse would not be liable and would not have to pay any of the taxes. But it is very difficult and time consuming for a spouse to meet the criteria for the Innocent Spouse exception.
How to File Tax Extension
For a spouse to effectively qualify for the Innocent Spouse exception they must complete and file Form 8857 and provide several other documents to the IRS. Some of the facts that the service will look at include the following: is the couple married, separated or divorced or are they married but living apart? Did the spouse provide the tax preparer with records or bank statements that were used to prepare the tax return? Did the spouse choose the tax preparer or know the tax preparer? If there is a business involved, did the spouse have any control over the day to day operations of the business? Did the spouse have any control over the financial records of the business? Did the spouse review the tax return before they signed the return? Do the spouses have joint bank accounts or do they have separate bank accounts or was a spouse hiding bank accounts or any other assets.
Vermont State Tax Extension
Dealing with the Internal Revenue Service can be very not easy and expensive for the average person or business. You must be well prepared when dealing with the IRS. The author has over 20 years of experience in productively helping his clients with the IRS.