Married Filing Separately vs Injured Spouse: What to Know скачать в хорошем качестве

Married Filing Separately vs Injured Spouse: What to Know

Married Filing Separately can help separate your tax liability, but it is often less beneficial since many credits and deductions are reduced or not allowed. If you are choosing MFS because your spouse has federal debts that could offset your refund, another option is to file Married Filing Jointly and use Form 8379 (Injured Spouse Allocation). This form separates each spouse’s income, deductions, credits, and refund so that only the spouse who owes the debt has their portion applied. ————————————LINKS———————————————— IRS Innocent Spouse Relief Info: https://www.irs.gov/taxtopics/tc205 IRS Publication 17 - Tax Guide 202X for Individuals: https://www.irs.gov/pub/irs-pdf/p17.pdf IRS Publication 501 - Dependents, Standard Deduction, and Filing Information: https://www.irs.gov/pub/irs-pdf/p501.pdf IRS Interactive Assistant: https://www.irs.gov/help/ita/what-is-... Boost Your Tax IQ Book: shorturl.at/ijBU2 ————————————DISCLAIMER———————————————— The information presented in this video is for informational and educational purposes only. It is not intended to render tax advice for any specific situation. Those needing assistance with a specific situation should consult with a qualified Tax Professional. The information in this video is based on current tax law and IRS regulations as of date of publication and is subject to change. #taxguide101 #akistepinska #taxlifefinances