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Merlo
Merlo, Accountant
Category: Tax
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Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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If legal seperated in marriage are both partners still responsible

Resolved Question:

If legal seperated in marriage are both partners still responsible for income tax liability if taxes have been filed seperately for two years?
Submitted: 4 years ago.
Category: Tax
Expert:  Merlo replied 4 years ago.

Hello susan,

 

Even if you were still married and living together, you are not responsible for taxes owed by your spouse in any year that you file a separate return, unless you live in a community property state. I assume you live in NC which is not a community property state, so this would not be an issue for you.

 

However, even though you would not be responsible for taxes owed by the other spouse, if the other spouse does owe tax and you have any assets which you own jointly (such as a home or bank account), the IRS can place a lien and/or levy on those assets to satisfy either spouse's tax debt. So you would want to make sure that you hold no assets jointly with the other spouse if you think this may be an issue.

 

But the IRS could not come after the other spouse personally for a demand for payment.

 

If this was helpful please press the Accept button Positive feedback is also appreciated.

 

Thank you susan

 

 

Customer: replied 4 years ago.

Thank you.

 

What would a demand for payment to the other spouse involve?

 

Also what about real estate holdings or money held in an LLC?

Expert:  Merlo replied 4 years ago.

Hello again susan,

 

What I meant by demand for payment is that the IRS could not came after the other spouse and either garnish their personal wages or put a levy on any bank account that is solely in that one spouse's name, or request that the spouse pay the taxes that are due from the other spouse.

 

As far as real estate holdings or money held in an LLC, those assets could not be touched unless both spouses are listed as owners of the real estate and unless both spouses are listed as shareholders/owners of the LLC. If the real estate holdings and LLC or any other assets are solely held in the name of the spouse who does not owe taxes, they cannot be touched. But if both spouses are listed as owners and/or shareholders, then the IRS could place liens and levies on those assets.

 

If this was helpful please press the Accept button. Positive feedback is also appreciated.

 

Thank you susan

 

 

Customer: replied 4 years ago.

So if we are seperating and dividing assets how does one partner resign from an LLC if all taxes by both individuals are current? This is NC.

Expert:  Merlo replied 4 years ago.

Hello again susan,

 

You would need to file amended articles of organization with the secretary of state's office in NC to show that one partner is no longer associated with the LLC.

 

 

Thank you susan

 

 

Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
Merlo and 3 other Tax Specialists are ready to help you
Customer: replied 4 years ago.

Hello

 

Back again.

 

If an LLC has partners and one of the partners has a IRS tax liability and he owns 25 percent of the units, can the taxing agency place a lien against the LLC or only his portion.

 

Also what happens with IRS property lien (that has no equity) if not paid?

Expert:  Merlo replied 4 years ago.

Hello again susan,

 

The IRS would place a lien only on the 25% owed by the partner who owes taxes.

 

The lien would stay in place for 10 years, at which time it expires if not paid.

 

 

Thank you susan

 

 

Customer: replied 4 years ago.

Hello

 

 

 

What determines property lien vs property seizure and sale, is a primary residence more protected than other real estate assets?

 

thanks for your answers!

Expert:  Merlo replied 4 years ago.

Hello again susan,

 

It depends on the value of the property and whether or not the IRS feels that seizure of the property would easily accomplish collecting the taxes that are owed. Your primary residence is not protected more than any other asset.

 

Just as an example -- if you own a home that is valued at $120,000 but have a mortgage of $90,000 with the bank which would first be paid if the property were seized and sold, then the IRS would not likely seize the property, as the property may not sell for $120,000 and by the time they expend their time and efforts they may end up with little or nothing.

 

 

Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
Merlo and 3 other Tax Specialists are ready to help you

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