2007-08-30 08:54:28 · 33 answers · asked by quillera 2 in Family & Relationships ➔ Weddings
Yes, it will if only because he's still paying it off. If you have joint accounts, joint property, etc. you could lose your half, too, if he doesn't get this straightened out in a timely manner.
Talk to an accountant together. It may be best to put off any joint purchases or bank accounts (if you don't have any already) until this is straightened out. In the meantime, you need clear advice specific to your situation from an expert in the field.
Play it safe. Get solid information based on the specifics of your case and follow that advice.
2007-08-30 09:23:00 · answer #1 · answered by gileswench 5 · 1⤊ 0⤋
You need to call the IRS and calrify. Everyone here is telling you that it does, but as far as I know it doesnt. However, every year you have to claim injured spouse, so they only keep that portion that is his. Also a debt that has been incurred before the marriage isnt yours, It is his. So long as you can prove that he had it before you married him, it isnt yours. The same as an asset. If it is his before he marries, it is his after he marries. However, on that note, you will ALWAYS have to prove it doesnt belong to you. I suggest a pre-nup so that none of it gets blurred along the way.
When tax season rolls around, they will keep your portion of the refund, you then have to file an injured spouse exemption and they will give you back that portion which should belong to you.
Also you should check your credit report annually to make sure this debt hasnt been tranferred to you.
good luck.
2007-08-30 14:10:10 · answer #2 · answered by psstoffagain 5 · 0⤊ 0⤋
yes, it will. also, you need to see his paperwork on this so you can determine how much he owes, how long he has to pay this off, and how he plans to pay it. also, if he has ruined credit in other areas, and what exactly his credit score is. if he does not share the paperwork showing you all of this, in other words it is not enough for him to say," oh, i owe $10,000 to the irs and i have good credit and no other bills, just trust me, i dont have to show you any proof,"if he says something like this he is lying to you and you must not marry him, or you will be writing here a year from now cause he will have ruined you financially. i would be very very nervous to be involved with someone who has irs debt because it suggests a lack of financial sense, or worse. you do not seem to know anything about this, so buy the susie orman books and read and read. also, if he says he wants you to help pay this debt, run for the hills. i know you did not ask for this extra advice, but you would be shocked at how many do who are in your shoes. you two need to talk to an accountant together and also, draw up a prenup. do you know what one is? if you dont, google it and dont get married to anyone like him without one.
2007-08-30 12:24:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Legally - no; you will not be legally responsible for the debts incurred before marriage. Practically - yes; when you're married, this will be coming out of your family budget. Anything he has to give to the IRS is something you are not getting to spend on other bills, on your kids' college, or put away for retirement.
2007-08-30 09:13:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes when you file a joint tax return and if you were to get a refund the IRS can keep it!
My co-worker was planning on getting a $2,500 refund and his new wife had an outstanding student loan from college and the IRS kept their refund and paid it on that debt.
2007-08-30 08:59:56 · answer #5 · answered by me4tennessee 6 · 0⤊ 0⤋
Probably only to the extent that if the two of you file a joint tax return, and are due a refund, the IRS will likely take it to resolve that debt...even if your income contributed to the amount that was owed back to the two of you.
2007-08-30 08:58:23 · answer #6 · answered by . 7 · 0⤊ 0⤋
when you and your fiance marry, you will marry him any and all his debts, just like he will your debts.
So try to clear up the debt before you marry, no need to start a new life together with huge debts.
2007-08-30 15:23:43 · answer #7 · answered by Ms. Angel.. 7 · 0⤊ 0⤋
Not exactly.
But since you will be married, you will most likely be co-mingling your assets ie: house in both names, joint bank accounts.
Of course the quick answer is separate accounts, but what if he dies?
So either way getting a clear WILL and keeping assets separate might be a good start as a way to avoid it.
But see a attorney about this either way. Good Luck 2 U!
2007-08-30 09:03:06 · answer #8 · answered by Kari 4 · 0⤊ 0⤋
Yes it will. The Irs can place him in Jail or place a lien on anything he owns. They wont care if your name is on it or not. So you could potentially lose your property for his debt.
2007-08-30 08:58:17 · answer #9 · answered by Anonymous · 0⤊ 0⤋
yes . . I was in the same situation with my hubby 18 yrs ago . . we post poned our wedding by 5 months so he could pay off the debt so my assets would not be in jeopardy
2007-08-30 09:01:17 · answer #10 · answered by Rainy 5 · 0⤊ 0⤋