2007-12-05 16:50:32 · 11 answers · asked by 4mySister 1 in Business & Finance ➔ Taxes ➔ United States
You don’t state why you husband owes, is the problem fixed now so he won’t owe in the future? The best option would be to make sure the problem is fixed by your husband paying estimated taxes, if you don’t have the discipline to do this quarterly you can pay more often such as monthly. Then he needs to get into an installment agreement with the IRS. If he doesn't the problem can still affect you because IRS will levy his wages and your joint bank accounts, they can also put liens on jointly held property that can affect your credit rating.
Per pub 501 you have 2 choices for filing, joint or separate. You can't file head of household unless you didn’t live with him even 1 day in the last 6 months of the year and otherwise qualify.
If you file separate returns then you tax liability is yours and his is his, this is probably the best option if he will continue to owe. If you file separate returns many tax benefits will be lost or limited such as the earned income credit.
If you file jointly you can protect you share of the refund if you submit the injured spouse form with the return. However, this doesn't stop you from being liable for his taxes this year.
2007-12-06 02:16:20 · answer #1 · answered by Charlie & Angie G 4 · 0⤊ 0⤋
Penalized is not exactly the proper word here. Ordinarily filing jointly results in the lowest tax bill but any refund would be applied to his outstanding balance. Your would have the right to file an injured spouse claim to recover your reasonable share of any refund. How you deal with the balance due will be based on the current status of the account and your combined ability to pay it based on IRS allowable expense standards. I deal with this kind of problem all the time with my clients.
2007-12-06 00:09:38 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Not penalized exactly, but if you file as married filing separately you will almost surely pay more tax than on a joint return.
Filing a joint return doesn't make you responsible for your husband's back taxes where you DIDN'T file a joint return with him. But if you have a refund coming on a joint return, the whole refund will be taken and applied to his debt unless you file an injured spouse form - if you do, the refund will be split and only his share will be taken; the amount that's due to YOUR income and withholding will still be sent to you.
2007-12-06 03:27:52 · answer #3 · answered by Judy 7 · 1⤊ 1⤋
You have 3 options:
1) File jointly and let the IRS seize the joint refund to pay down his debt. The debt isn't going to go away and this would pay it off faster.
2) File Separately. Your refund will probably be lower as you may lose some deductions and credits but you will get it.
3) File Jointly and file a Form 8379 (Injured Spouse). The IRS will allocated the joint refund between the both of you. His will be seized to pay his taxes. You will get yours but it will take a while (12 weeks or so).
2007-12-06 00:56:43 · answer #4 · answered by Wayne Z 7 · 1⤊ 3⤋
When you marry you marry the debt also.
File an injured spouse form with the IRS so that they won't garnish your wages. If you file a joint return and the injured spouse form you will get half of the refund and his half will be applied to his balance due.
2007-12-08 12:31:45 · answer #5 · answered by Ms. Angel.. 7 · 0⤊ 0⤋
you'll be penalized in the fact that filing as married-spearate is the highest possible tax bracket - I think there is a form you can sign that would protect your "half or portion of any refunds" - check out www.irs.gov or call the IRS
2007-12-06 05:48:22 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Details are inadequate. Although you are married, you don't have to file the return together, unless you have a firm jointly owned by you. Other wise, you are individually liable for payment of tax.
2007-12-05 17:03:31 · answer #7 · answered by Anonymous · 0⤊ 1⤋
File "married but seperate" to protect yourself. just in case. You never know
2007-12-05 16:53:40 · answer #8 · answered by New Momma 2 · 0⤊ 0⤋
i would check with a tax lawyer or cpa for correct information on how to file... i am not sure if you file jointly you will be liable .........
2007-12-05 17:07:59 · answer #9 · answered by churchonthewayseniors 6 · 0⤊ 1⤋
check with a lawyer..dont give up on your marriage ,just be sure that your in the clear,and let him know how you feel about this..tell him it worries you,jus wondering,did u know before marriage?anyways talk to a tax lawyer and talk to your hubbie..hugz to u,sorry u have to deal with this,with such a happy thing taking place..u have a great day ..hugz
2007-12-05 17:32:21 · answer #10 · answered by teresa h 2 · 0⤊ 1⤋