Income Tax Problems Practical Solutions

By: James Trippon | Posted: 27th March 2009

A majority of income tax problems start with marriage, divorce or death. Most single people are filing a simple W-2 return. Their return is straight forward either they owe or they are getting a tax refund. However, once married, going through a divorce, or having a spouse die can leave one spouse with increasing tax liability. This can be caused by the change of your deductions, incorrect income reporting or improperly clamin of deductions. In this event, the best resolution is to consult with a tax cpa or IRS attorney to sort out the IRS income tax debt.

If one spouse is not honstely reporting their income, this can disrupt the financial stability within the home. Joint money can have a IRS levy enforced and the money may not be available to either party. If a joint income tax return is filed, both parties become responsible for the money that is owed to the IRS. Another item to review when filing a joint return is to make sure that both parties review all deductions. If one party claims a tax deduction that you are not aware of, both parties are responsible for the IRS tax deduction. All tax deductions need to be valid and supported by the necessary documentation. Always remember, any tax deduction that you claim is subject to review by the IRS which can lead to an IRS audit.

Income tax problems get even more complex when a divorce is involbed. If the fiscal year is not complete when the divorce is settled, you still have to deal with income tax filing. During many divorces, one spouse usually attempts to get out of their portion of their tax liability. During April is when most income tax problems surface. One spouse attempts to make the other spouse absorb the IRS taxes that are owed or they plainly do not make the records available in the event an IRS audit.

But it doesn't stop here. Money issues get more complicated with divorce. When a couple gets divorced, it's a whole different ballgame. If the fiscal year isn't complete when the settlement is finalized, you still have to deal with filing. Some divorces are amicable, but many aren't. April is the time when most estranged couples experience problems with the IRS. Don't be one of them. If you get divorced, many ex-spouses try to get out of paying money they owe. They create many money issues because they expect an ex-spouse to absorb the cost of what may be owed, or simply don't make records available for what may be crucial when an audit occurs.

The death of a spouse can cause IRS problems also. Most common IRS problem are a result of one spouse handling the income tax preparation, and that person passes away. This results of lost records, receipts and income records. In many of these cases, the IRS is willing to work with you to solve the IRS income tax problem.

No matter what the cause of the IRS income tax problem, J.M. Trippon & Company CPAs can assist you with resolving your IRS tax problem. Give us a call today to speak to one of our IRS tax resolution specialists at 713-661-1040.
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Tags: tax liability, money issues, tax deductions, necessary documentation, financial stability, divorces, tax refund, marriage divorce, ballgame, income tax return, tax debt, irs audit, surface one, irs levy