Where taxes are concerned, filing for “innocent spouse” relief is tantamount to getting off scot-free-;but you will have to act quickly to take advantage. A recent ruling from the Treasury upholds the two-year cutoff for people seeking innocent spouse relief. If your current or former spouse wasn’t honest with their taxes, you’ll have to respond immediately to avoid a small tax issue turning into a larger one. If you’re the ‘innocent spouse’, here are some Tax Relief Help Henderson NV tips to consider.
Ensure you adhere to IRS guidelines. If you were unaware of your spouse’s illicit financial activities, you may be eligible for innocent spouse relief. Eligibility requirements are: 1) you cannot have shared bank accounts, and 2) you did not materially benefit from the illicit tax activity.
Be ready to prove certain conditions to the IRS: 1) a filed return with a tax understatement, 2) the understatement must be because of an error on your spouse’s part, 3) you must prove that you didn’t know about the error at the time of the return signing, 4) that it would be unfair to penalize you for the error made by your spouse, and 5) that you’ve met the deadline for filing. When making a ruling, the Internal Revenue Service will take certain factors into consideration, such as your business/educational experience, your overall financial status and your level of participation in the mistake.
Be divorced or separated. You can’t file for relief if you’re still married to the person making the error.
The topic of relief for innocent spouses is very complex, and we recommend that you visit the IRS’ website to learn about the different kinds of relief that are available for innocent spouses; there is also information on the statute of limitations for refunds, eligibility requirements, and rules for spouses living in states with community property laws. Once you request innocent spouse Tax Relief Help Henderson NV, you will be sent an IRS questionnaire to verify your story. A tax relief specialist or tax lawyer can help navigate the process of providing the necessary information in an innocent spouse case.
