Our Expert Advice:
Did you know that you can get out of your tax debts if they are caused by any misdeed, misconduct, or fraud committed by your spouse? If your spouse or ex-spouse failed to report income, reported income improperly, or committed intentional tax fraud and you suffered financial setbacks as a result of having to pay for your spouse's error, then innocent spouse relief could provide you with the financial relief that you need.
Innocent spouse relief was designed to address unjust situations in which one spouse was clearly the victim of financial fraud perpetrated by the other spouse or ex-spouse. If your tax refund was taken by the Internal Revenue Service (IRS) to pay for your spouse's past-due obligations, you may be eligible for innocent spouse relief.
Past-due obligations could include:
- Federal tax
- State tax
- Child support, spousal support, or alimony
- Student loans
- Other debts
According to the IRS Code, Section 6015(f) regarding innocent spouse relief, you are also entitled to equitable relief of liability of the taxes that were not paid with joint-filed tax returns. To request or receive innocent spouse relief, however, you must file for relief no later than two years after the date that the IRS first attempted to collect taxes from you. Failure to do so could lock you out from receiving financial relief. Speaking with an experienced certified public accountant can help inform you of the various intricacies that surround innocent spouse relief and ensure that you follow the requirements in order to qualify for the benefits.
How do I qualify for innocent spouse relief?
In order to qualify for innocent spouse relief, you must meet all of the following requirements:
You filed a joint return that has a tax deficiency that is solely attributable to your spouse's income, tax deductions, credits, or properties and was omitted or listed incorrectly in a return.
You establish that, at the time you signed the joint return, you did not know that there was an understatement or improper listing of tax.
It would be unfair to hold you liable for the understatement of tax.
Make the Right Choice with L&S Business Solutions, LLC, Tax Help Pro.
If you suffered financial setbacks due to a dishonest or fraudulent tax report filed by a spouse or ex-spouse, relief may be just a phone call away. When you contact L&S, Tax Help Pro's, we can help you take into account all of the facts and circumstances regarding your joint tax return and help determine whether you are eligible for tax relief.
I know how urgent these matters are and we are fully committed to finding a quick but efficient solution to your financial matters. By handling your finances personally, we can develop the proper support that you need, all while, paying the lowest tax possible. Remember, your current tax problems do not have to be permanent! There may be a solution that can lead you toward long-lasting peace of mind and financial stability.
Call our office as soon as possible to speak with a helpful member of our team. We can schedule a free case evaluation and can begin discussing your financial matters in confidence.