The IRS has the power to release a spouse from direct financial liability for unpaid taxes. This release from responsibility from having to pay tax debts of the other spouse (or estranged spouse) is called innocent spouse relief. The IRS will conduct an evaluation of the spouse’s education, work experience, relationship status (still married, divorced, […]
Continue readingThe IRS has released proposed regulations that would, among other things, extend the deadline for equitable relief for innocent spouses. The deadline was informally extended by Notice 2011-70; the proposed regulations would make that deadline permanent. Source: IRS Proposes To Permanently Ease Restrictions For Innocent Spouse Relief – Forbes
Continue readingSource: Tax Topics – Topic 205 Innocent Spouse Relief (Including Separation of Liability and Equitable Relief)
Continue readingSource: How to Qualify for Innocent Spouse Tax Relief: 3 Steps
Continue readingJuly is the month of Independence Day, July 4th, and I want you to realize that you can gain your independence after divorce, gain freedom over your personal finances and do it without fear! “Oh, she doesn’t have to be there because I take care of all the finances,” he said. Did […]
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