My husband and I are filing our tax returns separately. I have a student loan that is in default. Can my husbands refund be taken by the IRS because of my loan. This is our first year being married so I was curious. Thanks.
2006-12-15 12:29:54 · 10 answers · asked by Jesse 4 in Business & Finance ➔ Taxes ➔ United States
They should only be able to seize your refund, not his. You could still file jointly and your husband could file as injured spouse. With that form, it will separate your income and refund amounts. Also, if there are any children, you can specify who has the right to claim them.
Check the IRS website for more information on Injured Spouse.
www.irs.gov
2006-12-15 14:15:46 · answer #1 · answered by D.M. C 2 · 0⤊ 0⤋
No. As long as you keep your finanances separate and file separately, it's enough evidence for the IRS to recognize that although you are married, you're not responsible for eachother financially. Keep everything simple and stay away from opening joint accounts. If you do, make sure you add a statement in your tax return explaining how much of this liability is your responsibility or how much of it is just a nominee portion. I don't know who your lender is, but I sense that it's Governement subsidized. The government has the right to pursue your husband once your assets are exhausted.
Good luck.
2006-12-15 15:06:58 · answer #2 · answered by KillerKat 3 · 0⤊ 0⤋
Because many of the tax benefits are eliminated without filing jointly what i would suggest is for you guys to file married filling joint and him to file as an injured spouse that will allow him to get all of the refund that is due to him without them seizing it. If you have any kids make sure you assign them as belonging to him so he will get the tax benefits. It takes longer for the IRS to process the return but its worth it in the long run.
2006-12-15 14:45:50 · answer #3 · answered by misskenzie12 2 · 1⤊ 0⤋
No one can predict what the IRS will do..they may, in fact, try to attach your husband's refund. If this happens you would simply file an "injured spouse" appeal with the IRS to get the refund back.
2006-12-16 01:37:29 · answer #4 · answered by besttaxexpert 2 · 0⤊ 0⤋
Doubtful since the loan was originated before the marriage and probably in your maiden name.
2006-12-15 12:33:35 · answer #5 · answered by tko43078 3 · 0⤊ 0⤋
Since the loan is in your name only and you are filing seperately, they should only be able to touch your check.
2006-12-15 13:05:13 · answer #6 · answered by Mariposa 7 · 0⤊ 0⤋
The debt will definitely be taken from the refund. The question is, how much? You will have to file an "Injured Spouse" form to try to avoid having any taken from your share of the refund.
2016-03-29 08:45:45 · answer #7 · answered by ? 4 · 0⤊ 0⤋
the loan is in your name so they shouldnt go after him however it will affect his ability to borrow in the future
2006-12-15 12:32:51 · answer #8 · answered by Anonymous · 0⤊ 1⤋
ask a CPA or tax specialist. to make sure
2006-12-15 12:31:49 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I dont think so.
2006-12-15 12:31:53 · answer #10 · answered by Anonymous · 0⤊ 1⤋