January 15, 2020

Husband hasn't paid taxes in 5 years!

peter alizio calendar icon at 2:59 PM
I recently answered the following question on Quora.com 


Question: 


My husband and I just got married and I just found out he hasn’t paid taxes in 5 years! Where do we start to get this fixed?

Answer: 


I would begin with requesting tax return transcripts from the IRS. Specifically the Wage and Income Transcripts will provide you with the necessary information needed to complete the prior year tax returns. I also prepared a guide to assist in preparing past due income tax returns.


Other considerations to keep in mind when dealing with past due unfilled tax returns, the possibility that there will be a large tax liability (back taxes + interest + penalties). It may be a good idea not to commingle any of your financial assets with your husband until his tax situation is handled. This is because if he does end up owing significant money the IRS will only be able to collect or levy his accounts.

I hope this helps and good luck!