An Innocent Spouse

When filing a joint federal tax return, the law holds you and your spouse jointly responsible for the entire tax liability. What this means is that the IRS may collect the tax due from the both of you or either one of you, and is true regardless of future divorce or separation. In some instances, you can file for what is referred to as innocent spouse relief with the IRS. On today's show, Ralph discusses why innocent spouse relief may be an option, how to file and what it can mean for your federal tax liability.

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To schedule a consultation with Ralph's team or to schedule your tax preparation appointment, contact him at 302-659-6560 or go to www.askralph.com for more information.