HOW TO STICK YOUR BIG FAT EX WITH your TAX BILL and other timely tax tips (CRASH COURSE)

FILING A JOINT RETURN Both you and your spouse must include all of your income, exemptions, and deductions on your joint return. 

Joint responsibility Both of you may be held responsible, jointly and individually, for the tax and any interest or penalty due on your joint return. This means that if one spouse does not pay the tax due, the other may have to. Or, if one spouse does not report the correct tax, both spouses may be responsible for any additional taxes assessed by the IRS. One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse. 

You may want to le separately if: 

•You believe your spouse is not reporting all of his or her income, or 


•You do not want to be responsible for any taxes due if your spouse does not have enough tax withheld or does not pay enough estimated tax. 


Divorced taxpayer. You may be held jointly and individually responsible for any tax, interest, and penalties due on a joint return led before your divorce. This responsibility may apply even if your divorce decree states that your former spouse will be responsible for any amounts due on previously led joint returns. 

Relief from joint liability. In some cases, one spouse may be relieved of joint liability for tax, interest, and penalties on a joint return for items of the other spouse that were incorrectly reported on the joint return. You can ask for relief no matter how small the liability. There are three types of relief available. 

1.           Innocent spouse relief. 


2.           Separation of liability, which is available only to joint lers who are divorced, widowed, legally separated, or have not lived together for the 12 months ending the date election of this relief is led. 


3.           Equitable relief. 


You must le Form 8857, Request for Innocent Spouse Relief, to request any of these kinds of relief. 

Signing a joint return. For a return to be considered a joint return, both spouses must generally sign the return. If your spouse died before signing the return, the executor or administrator must sign the return for your spouse. If neither you nor anyone else has yet been appointed as executor or administrator, you can sign the return for your spouse and enter “ ling as surviving spouse” in the area where you sign the return. 

Spouse away from home. If your spouse is away from home, you should prepare the return, sign it, and send it to your spouse to sign so that it can be led on time. 

Signing as guardian of spouse. If you are the guardian of your spouse who is mentally incompetent, you can sign the return for your spouse as guardian. 

Spouse in combat zone. If your spouse is unable to sign the return because he or she is serving in a combat zone (such as the Persian Gulf Area, Serbia, Montenegro, Albania, or Afghanistan), and you do not have a power of attorney or other statement, you can sign for your spouse. Attach a signed statement to your return that explains that your spouse is serving in a combat zone. 

Nonresident alien or dual-status alien. A joint return generally cannot be led if either spouse is a nonresident alien at any time during the tax year. However, if one spouse was a nonresident alien or dual-status alien who was married to a U.S. citizen or resident at the end of the year, the spouses can choose to le a joint return. If you do le a joint return, you and your spouse are both treated as U.S. residents for the entire tax year. 

MARRIED FILING SEPARATELY 

You can choose married ling separately as your ling status if you are married. This ling status may bene t you if you want to be responsible only for your own tax or if it results in less tax than ling a joint return. If you and your spouse do not agree to le a joint return, you must use this ling status, unless you qualify for head of household status. 

If you live apart from your spouse and meet certain tests, you may be considered unmarried and may be able to le as head of household. This can apply to you even if you are not divorced or legally separated. 

If you qualify to file as head of household, instead of as married ling separately, your tax may be lower, you may be able to claim the earned income credit and certain other credits, and your standard deduction will be higher. The head of household ling status allows you to choose the standard deduction even if your spouse chooses to itemize deductions. See Head of Household, later, for more information.

MONEY OVERSEAS? The Internal Revenue Service (IRS) has been aggressively pursuing unreported foreign accounts since 2009. During that time, the IRS has offered various Offshore Voluntary Disclosure Programs (OVDP's). On March 14, 2018, the IRS announced that the current OVDP would end on September 28, 2018. It is now imperative that you review the best way to help correct prior omissions for undisclosed foreign financials.

Selig & Associates We solve IRS & NYS Tax Problems quickly and quietly, without having to go to Court. Call David SELIG for a free consultation (212) 974-3435

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