Wednesday, October 22, 2008

You're Getting Married and Your New Spose Owes the IRS

How do you keep your spouses liability separate from yourself. Well you are married, aren't you supposed to share everything?

In this case it is best to keep the liability with just the spouse who owes. There are two ways to do this.

First, you can file Married Filing Separate. This will keep your liabilities separate and the IRS will not be able to come after the innocent spouse for the liability. Doing it this way you will loose your married deduction on your tax return. To get that deduction you need to do the second item.

Second you can file Married Filing Joint BUT you have to file innocent spouse with your return. This is form 8857 with your return. This will protect the "innocent spouse" from the IRS but allow you to take the married deduction on your tax return.

If you have questions about resolving your tax debt or about filing taxes please call Effctur and check out their website.

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