Fiancees IRS debt...?

Question

If I marry my fiancee, what about his IRS debt? Will I be responsible for it or not??? I own my own business and would not want to owe his tax debt of about $192,000 (bad business partners).

Answer 1

Once you are married, I would file married filing separate to keep your finances from being co-mingled. Additionally, the IRS 'may' have rights to any refunds in the future to paydown the prior debt. Speak to your CPA on that.
Since the IRS would legally claim any future refund for prior debt, your joint return 'may' open that ability. Additionally, if your soon to be has a problem with the IRS a joint return may be 'reviewed' as a result. Being self-employed, may also highten your chances of an audit.
A CPA or even an EA in your area should be able to confirm if the IRS can claim your refunds, and joint bank accounts if you file jointly. The IRS can randomly withdraw funds from a bank account where a borrower owes them back taxes and has failed to make arrangements or met payment obligations.
Speak to a CPA is my bottom line advise.

Answer 2

You won't be liable for the debt that existed prior to your marriage. However as your funds and assets will likely be commingled after you marry it's possible that the IRS would be able to attach them unless you are EXTREMELY careful.

There are 2 rules when considering marriage to someone with tax issues:

1. Never marry anyone with "tax issues."

2. Never forget rule #1.

Note: Rules compliments of Wayne Z, one of the sharper tools in this shed!

Answer 3

I have been there and done that. Eventually YOU will PAY my dear.

Don't do it! Anyone who feels entitled to not pay their fair share of taxes is a LOSER and will continue in this false belief that they are special. And, please don't fall for any BS about business partners. That is all it is.