irs debt
Q.I AM WRITING IN NEED OF ADVICE. MY HUSBAND IS INDEBTED TO THE IRS WHICH OCCURRED PRIOR TO OUR MARRIAGE. WILL I BE HELD RESPONSIBLE FOR THIS DEBT? ALSO DUE TO THIS HE IS UNABLE TO OWN ANYTHING IE CAR, HOUSE ETC. CAN MY POSSESSIONS ALSO BE CONFISCATED FROM THE IRS AT SOME POINT. IF ANYONE HAS ANY EXPERIENCE OR ADVICE TO GIVE ME IN THIS MATTER PLEASE RESPOND. I'M NOW WONDERING IF WE SHOULD HAVE STAYED SINGLE AND NOT MARRIED TO AVOID ANY IRS REPRUCUSSIONS.
A.Any property owned by you prior to marriage is not reachable by the IRS. Property acquired jointly during the marriage is subject to IRS levy. As a practical matter, the two most likely things to be concerned about are joint bank accounts and a jointly owned home with a great deal of equity in it. As for your income -- it depends on whether you live in a community property state. If you do -- your income can be used to satisfy his liability. A prenuptual agreement would have solved the income problem. A post-nuptual agreement is better than nothing. The bottom line is, if you deal with the IRS in an attempt to solve the problem, you will not need to worry about enforced collections. My website has a lot of free information on dealing with IRS debt. If there is still problems with the current year, and/or future years, then consider filing separately will help avoid any future issues. Consider getting the advice from a local tax attorney about the status in your state, IE: community property state, etc. to see where you stand. Even if you have to pay a few hundred dollars for a consultation it would be like insurance.
Other Questions :
If the IRS has until 2006 to review the tax return
What is the time limit for cashing an IRS refund check? My son received a refund check last May for the 2002 tax year. He neglected to cash it. He believes that he had only 90 days to cash an IRS refund check. So he believes the refund c...
IRS tax file
In this new electronic age, the IRS wants it's information delivered in file form as opposed to the old paper. We have to produce a file from our customer 1099 and 1098 data (interest they paid us or we paid them.) The file is ASCII text with...
A foreign investor need to help with Irs problem
I have an problem with Irs and need to help I have an account in miami where i never paid taxes since i am not a us citizen and are living in southamerica. in 1998 i started to buy stocks with my bank and in dic.1998 they charged me a heavy amo...
Is IRS in the process of redesigning it's web site.
Is IRS in the process of redesigning it's web site.?That's right.It is possible you will need to change many of your IRS bookmarks to the new locations. (1) Go to the IRS home page at http://www.irs.gov/ then (2) use the search to locate th...
Irs Tax Form Publication_some questions
My daughter obtained student loans to attend a state university. She paid the tuition herself and when I filled out the tax forms for the federal income taxes, I did not claim the tuition (1099t) that she paid. Even though we claimed her as a...