When a married couple files a joint tax return, each spouse is jointly and severally liable for the tax showing due on that tax return, and any subsequent audit adjustments the IRS may make. This means each spouse is responsible for the entire tax bill independently of the other. This doesn’t mean the IRS is doubling the tax, it just…
Taking A Cooperative Approach To Your Legal Issues
Month: May 2014
IRS Collection Appeals
The IRS provides administrative appeals procedures for a variety of situations. The focus of this blog is IRS appeals as they relate the resolution of an assessed federal tax debt. I will save for another day appeals procedures applicable to other issues like appeals of audit determinations or FBAR penalties. Here is a brief overview of common appeals procedures in…
ANOTHER FATCA DELAY: Good for the Banks but Nothing for Americans Abroad
In a ten page notice released late last Friday afternoon, the IRS published additional FATCA guidance, which at first glance may lead some wishful thinkers to conclude that the government is never going to be able to pull this FATCA thing off. (See IRS Notice...