News & Analysis as of

Joint Tax Returns

Is your spouse having trouble with the IRS and you didn’t know?

by Foodman CPAs & Advisors on

In a joint tax return filing, IRS has the right to assess both spouses that sign a joint income tax return under the penalty of perjury. This is similar to jointly signing for a loan at a Bank. The Bank will impose a legal...more

A valid marriage is required to file a Joint Return. What is a valid marriage?

by Sanford Millar on

Assuming that you have a valid marriage for federal income tax purposes, as defined in “Section 301.7701-18(b) (1) of the Procedure and Administration Regulations that a marriage of two individuals is recognized for federal...more

Legislation to Provide Equal Tax Treatment for Married Same Sex Couples

by Pessin Katz Law, P.A. on

On July 13, 2017 Rep. Richard E. Neal (D-MA-1), joined by other members of the U.S. House of Representatives, introduced H.R. 3234, Refund Equality Act of 2017, which has been referred to the House Committee on Ways and...more

I Owe Joint Taxes with My Spouse: What Do You Do? Innocent Spouse Relief (Part 8)

by McNair Law Firm, P.A. on

Married couples may file a joint federal income tax return together, reporting their joint income and expenses. The benefit of a joint return is that the overall tax rate may often be lower. However, if a joint return is...more

She Should Have Known – Spouse Denied Tax Relief

by Pessin Katz Law, P.A. on

In Ryke v Commissioner (U.S. Tax Court, TC Memo 2017-144, Docket No. 20587-15, July 25, 2017) a doctor claiming innocent spouse relief for unpaid taxes was denied the same because she knew or should have known of the tax...more

The Joint Tax Return

by Moskowitz LLP on

IRS data indicates that over 95% of married couples file jointly – and for most, but not all, couples this makes good economic sense. In this two-part series, we will discuss the advantages and disadvantages of filing joint...more

Becoming As Rich As Donald Trump: Financial and Tax Policies of the United States Government That Can Lead To Significant Wealth...

by M. Robinson & Company, P.C. on

Financial and tax policies of the United States government can help Americans achieve significant wealth through real estate ownership. These policies tend to favor taxpayers who, like the Trump family, are willing to commit...more

MoFo New York Tax Insights - Volume 7, Issue 6

by Morrison & Foerster LLP on

New York City Tribunal Rejects City’s Attempt To Forcibly Combine Bank And Its Mortgage Subsidiary - The New York City Tax Appeals Tribunal, affirming a determination of the Chief Administrative Law Judge, has held that...more

Annual Estate Planning Newsletter: Part Four

by Blank Rome LLP on

Action Item: This is the fourth installment of our Annual Estate Planning Newsletter, and focuses on matters of interest to married couples. We urge you to review this installment to ensure that your 2016 estate and tax...more

Innocent Spouse Relief Granted Due to Spousal Abuse Even If Requesting Spouse Had Knowledge of Tax Deficiency

In a recent Tax Court case, innocent spouse relief was granted to a Florida taxpayer to relieve her from over $400,000 in tax deficiency and penalties. Tax Court typically is reluctant to grant innocent spouse relief when the...more

Some Tax Implications of Same Sex Marriage

by Pessin Katz Law, P.A. on

By now, the U.S. Supreme Court’s decision in Obergefell v. Hodges holding that the Fourteenth Amendment requires all states to license a marriage between two people of the same sex has been widely reported upon, including in...more

Revisit employment policies in light of Supreme Court’s same-sex marriage ruling

by Kirton McConkie PC on

Since December 2013, when the U.S. District Court for the District of Utah concluded that Utah’s definition of marriage as the union between only a man and a woman was unconstitutional, the validity of same-sex marriage has...more

U.S. Supreme Court Strikes Down State Laws Banning Same-Sex Marriage - Same-Sex Couples Should Review Their Estate Planning...

by Holland & Knight LLP on

The recent U.S. Supreme Court decision in Obergefell v. Hodges, 135 S.Ct. 1039 (June 26, 2015),answered definitively the lingering questions following the Court’s decision last year in Windsor about whether states could...more

Innocent Spouse Relief and Recent Guidance

Generally, when you and your spouse file joint income tax returns, the law makes both you and your spouse responsible for the entire tax liability. This is called joint and several liability. Both spouses remain 100 percent...more

Tax Filing During a Divorce: Separate or Joint Returns?

by Lewitt Hackman on

Couples going through a divorce should remember this regarding taxes: You can still file a joint return, so long as you were still married as of December 31st....more

State Tax Implications of Fourth Circuit Court of Appeals Decision Rejecting Virginia’s Same-Sex Marriage Ban

On Monday, the Court of Appeals for the Fourth Circuit invalidated Virginia’s prohibition on same-sex marriages. Bostic v. Schaefer, Docket No. 14-1167 (4th Cir. July 28, 2014). The Fourth Circuit includes Virginia, Maryland,...more

Same Sex Marriages: Are You Filing Your Taxes Properly?

by Poyner Spruill LLP on

In late 2013, I met with my first same sex couple clients since the U.S. Supreme Court overruled the Defense of Marriage Act (DOMA) last year. If you recall, DOMA was the federal law barring the federal government from...more

Community Property Income Not Shared For Self-Employment Tax Purposes

by Charles (Chuck) Rubin on

A recent Tax Court case illustrates a trap for the unwary in regard to the computation of self-employment taxes. Spouses subject to community property laws obtain an interest in the assets and income of their spouses. ...more

Nonresident Alien Spouse Not Liable for Penalties

by Sanford Millar on

There are an unknown number of U.S. citizens married to nonresident aliens. Many of these taxpayers have filed joint income tax returns. Most are likely to have filed joint income tax returns (Form 1040) without having...more

DOMA Undone

by Pierce Atwood LLP on

Signed into law in 1996, the Defense of Marriage Act, known as DOMA, defined “marriage” for purposes of federal law as a union between one man and one woman as husband and wife, and “spouse” as a person of the opposite sex....more

United States v. Windsor: Tax Issues

by Burns & Levinson LLP on

Although the decision of the United States Supreme Court in United States v. Windsor invalidating much of the Defense of Marriage Act (DOMA) affects at most approximately 20% of the population of the United States, it has...more

Personal Planning Strategies - July 2013

by Proskauer Rose LLP on

On June 26, 2013, the United States Supreme Court issued its decisions in Windsor v. United States and Hollingsworth, et. al. v. Perry et. al., thus ending a four year "fast-track" judicial expedition of the validity of the...more

A long engagement: Married same-sex couples finally receive post-DOMA access to federal tax and estate planning benefits

The U.S. Supreme Court’s ruling in United States v. Windsor will forever change many facets of the lives of same-sex couples....more

Some Takeaways From The Recent DOMA Decisions

by Charles (Chuck) Rubin on

Below is a listing of some takeaways of the more readily apparent tax consequences and implications from this week’s two DOMA decisions (Hollingsworth v. Perry & US v. Windsor) on same-sex marriages, along with a few personal...more

Should Married Nonresident Aliens Elect Joint Return Status?

by Sanford Millar on

The recent decisions of the US Supreme Court, (in the Defense of Marriage Act and Proposition 8 cases) to strike down anti-gay marriage legislation may very well produce an increase in immigrant marriages. The actual number...more

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