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Contemplating marriage Tennessee

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  • Contemplating marriage Tennessee

    If I were to get married, can I be held liable for past tax debts by my spouse?

  • #2
    Tax debts before marriage - no you would not be responsible for them.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

    Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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    • #3
      Thank you so much for your reply!!

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      • #4
        You're very welcome.
        Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

        Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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        • #5
          BUT, the IRS could clean out your joint bank account, and you'd have to protest to get your money back.
          I am not an attorney, and don't play one on TV. Any information given is a description only and should be verified by your attorney.

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          • #6
            That's a good point. If you have a *joint* bank acct., they will most likely go
            after it since your spouse's name is also on it. You can get your money back
            but you have to go through a procedure proving the amt. that was yours. You
            might want to set up a separate bank acct. with your name on it only. Once
            again, you are not responsible though for tax debts of your spouse before your
            marriage.
            Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

            Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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            • #7
              Originally posted by redeye View Post
              If I were to get married, can I be held liable for past tax debts by my spouse?
              You cannot be held liable for the past tax debts of your spouse, but you will have to be a bit careful about your financial lives to ensure that you are not accidentally held liable.

              You should not have any joint bank accounts, and you should not own any joint real estate or other significant assets until the past due debt is paid in full.

              If you file a joint tax return (which in most cases is the wise thing to do) then you will need to include an injured spouse form with your return, to ensure that you receive your fair share of the tax refund. Otherwise the tax refund will be seized for the past due tax. However, sometimes for the financial health of the marriage, its wiser not to file the injured spouse form and to simply allow the entire refund to be taken.

              Please also note that if the past due tax is due to the fact that your future spouse is self employed, then you want to think carefully about whether or not its wise to file a joint return, if a joint return will result in a balance due, and you cannot control whether or not that balance due will be promptly paid. Any balance due from a joint return, will be equally your responsibility in the eyes of the IRS, even should you divorce.

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              • #8
                You might want to read this article. (Tn. is not a community property state.)

                http://accounting.smartpros.com:80/x69465.xml
                Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

                Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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                • #9
                  Where one spouse had large debts (and in this sense, tax debts are no different) you must take care in all your financial affairs. While you may not be liable for your spouse's debt, it is an easy matter to allow your assets to become commingled. Keep everything possible separate and keep good records of what goes into and out of any accounts.
                  David K. Staub (www.illinoisbusinessattorney.com)
                  Forum posts are not legal advice, are for informational and educational purposes only, and are not a substitute for proper consultation with legal counsel.

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