Innocent Spouse Relief

You Are NOT Responsible for the Misdeeds of Your Spouse… If You Know What Steps to Take.

You’re in luck! The IRS has provisions for an “Innocent Spouse”.

Under certain circumstances, you may be resolved of any misdeeds of a spouse or former spouse involving income tax fraud.

Most married couples file their tax returns jointly. There are certainly benefits to this, but if there were certain “errors” or “mistakes” on your joint return and it was your (present or former) spouse’s fault, you could be in luck. There are provisions in the Tax code that will let you out of a tax burden that was not your fault. But, it will need to be proven. We can help.

To ensure yourself the best possible outcome, it is best to take action as soon as you realize there is a problem.

 

We can review your situation and help you determine your options and file for Innocent Spouse Relief when necessary.

“Innocent Spouse Relief provides you relief from additional tax you owe if your spouse or former spouse failed to report income, reported income improperly or claimed improper deductions or credits.” – IRS Topic 205

Let Us Help:

3 Debt Elimination Steps for Your Small Business

Lots going on this week. Namely…The tax filing deadline is Monday, April 15th. For any of our Coastal Southeastern NC business clients who haven’t yet reached out to us, we can still take you on by filing an extension on your behalf and then managing the filing after....
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A Warning About Social Media Tax Advice for Taxpayers

I’ve had plenty of clients over the years come to me in a terrible position with their taxes because they trusted the wrong person’s advice or fell prey to a scam… or both. In fact, the third most commonly reported fraud is tax refund fraud, and every year...
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A New Retirement Plan for Small Business Owners

Well, the U.S. government has decided it can go on spending money – 1.2 trillion dollars to be exact. That means the departments of State, Defense, Labor, Health and Human Services, and Homeland Security are funded, through next September anyway. So the shutdown...
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Manage Remote Workers Through I-9 Requirements: A How-To for Businesses

Double-checking is a motto we live by here at Century Accounting and Tax Services, Inc.. It’s just good sense when you’re dealing with complicated tax code and people’s returns. No one situation is quite the same with our clients. And you can be sure we’re giving...
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Common Tax Penalties Taxpayers Can Easily Avoid

Remember that frantic scramble to file your taxes on April 15th? Procrastination happens, especially with taxes.But a rushed job often leads to a botched job. Why? Because there’s no time to double check to make sure everything is right. Small mistakes can be a big...
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Why Retain Business Advisors Year-Round

Well, since we’re in full deja vu mode right now with the presidential election bid and this year’s Super Bowl outcome… let’s talk about the Employee Retention Credit… again.Because this week is the deadline for withdrawing ineligible claims — March 22. That’s...
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Zero-Based Budgeting in Your Small Business

No business management technique is sacred anymore. And rightly so.In my world, there’s been a trend in recent years with businesses moving away from traditional, fixed budgets towards more flexible approaches. I think that could be said for most tasks within business...
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IRS Collection Notices Hitting Your Mailbox?

One thing you don’t really want showing up in your Coastal Southeastern NC mailbox (besides all of those dental office and windows installation ads) is a collection notice from the IRS.And, for two years, you had a reprieve thanks to the IRS halting many of their...
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Crypto Tax Reporting and Keeping Investors Accountable

Picture this: You’ve been dabbling in cryptocurrency – Bitcoin, Ethereum, maybe even a few of those meme coins. You've made some decent trades, seen some gains. Life is good. But there's that nagging feeling in the back of your mind – did you handle the taxes on all...
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Making Your Business and Tech Work Together

A quick note about the business filing deadline. It is a week and a half away (on March 15th)!! I will submit returns and returns that have come in before cut-off and need information before completing extensions on the 14th. The 15th is on a Friday, and the office is...
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