Posts tagged tax law
Innocent Spouse Tax Relief

Many couples file joint tax returns because in most cases it lowers their tax.  When filing jointly, however, both people are liable for the tax and any assessments imposed against the return.  This joint and several liability even survives the couple's divorce.  Joint and several liability means that each taxpayer is legally responsible for the entire liability. The IRS has provided for three types of relief from joint and several liability for spouses who filed joint returns.

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IRS Statute of Limitation on Collecting Taxes

For some the only hope of relief from unmanageable federal tax debts may be the statute of limitations on collection. In theory, the IRS has only 10 years from the date of assessment to collect. However, this 10-year limitation has many exceptions, waivers and overlapping extensions such that in all but the simplest of cases computing the correct “collection statute expiration date” is quite difficult.

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