Alright – so, I am recently married. I was completely aware of the financial situation of my husband when we married – that is why we are financially separate in all things we do (no naysayers about this – I prefer it this way). In 2010 he had a farm that was repossessed by the bank. The he was fined 1mil. The
Alright – so, I am recently married. I was completely aware of the financial situation of my husband when we married – that is why we are financially separate in all things we do (no naysayers about this – I prefer it this way). In 2010 he had a farm that was repossessed by the bank. The he was fined 1mil. The penalty/punishment was equivalent to filing bankruptcy – which he didn't file out of pride, but I think he should have. I know this will expire after 7 years unless they choose to renew it. So, I just found out that he did not file his taxes for this year. He gets a W2 and makes somewhere between 30,000 and 35,000. This is maybe partly my fault because I had the W2 and then lost it but he could have gotten another one. So, now we'd like to get him caught up with filing, etc. but without launching a red flag. The more I think about it and the more we have talked the more I realize that he "thinks" he filed in years previously which may mean that he didn't or that he filed for an extension but never followed through. The last thing I want to do is be miss honest pants and go in and draw up a bunch of attention that may cause his fine to be extended, etc. Please, does anyone have any helpful/encouraging advice?
side note : everything tax related was at least current until 2010 and I think it's only delinquent one year
Pick This is right. This is serious. And if he is so disorganized to not know where his copies of his tax returns are for every year (or IF HE EVEN FILED), then he's pretty much got two options: keep ignoring the problem-and let it get worse…or request copies from his tax preparer's office. I don't think the last resort is what either of you want to do. And that is ask IRS for all of his past filings from the last 7 yrs or so. As far as back taxes & fines goes, I've never heard of the IRS just writing off any. Regardless of how long ago. My husband had taxes owed from gambling winnings in another state..8 yrs before they finally came after us both for it (we had been married less than 2 yrs, and had only filed our first joint return that March. Then they deducted it from our next refund). 😣
Who fined him $1M? You call it a "punishment," which is consistent with a fine, but why is it "the equivalent of bankruptcy?" And why does it expire after 7 years? I think the IRS has 10 years to collect unpaid taxes, but that's not renewable. Civil judgments can be renewed, but that again is usually 10 years, not 7.
The only thing that involves 7 years that I can think of is that bankruptcy or foreclosure is no longer reported on your credit report, but you said he didn't file bankruptcy, and the effects on your credit are not renewable.
Hire a tax expert.. not strangers on the internet. I know someone that paid four thousand to an expert to straighten out their mess. I can't believe he did not disclose this information. Don't ever file taxes with him…
Please, please get references for a good accountant. I have friends that thought they owed quite a bit in back taxes, but an accountant went through their boxes of receipts and papers very carefully, and they didn't owe anything, they got a refund. He wasn't dishonest, no tricks or gimmicks, they just didn't know what they were entitled to. The IRS is an entity you don't want on your back. Take care of this.
My SO owes, too. That's why we'll likely never marry.
If he didn't file, then the government already knows that he didn't file, so reminding them isn't going to raise any red flags or draw attention. Filing late, even years late, is very common.
Just fill out the forms that he should have filed, and file them.
Talk to a lawyer that deals with taxes
If he didn't file the SOONER you file the better to eliminate running up fines for not filing tax and the associated interest.
This is very serious, because the IRS does not fool around, and they have a lot of power. I highly recommend you see a tax attorney for advice!
at least get him up to date with what you know, if he didn't file the year before you were married get that done for him, get the W-2, the employer will reissue one to him
in the future you may want to file married separately but in the end unless you have taken legal protections on your separate finances, you are now joint and anything in the future is joint