QUESTION:
My husband and I have always filed separate returns, but we still live together. Each of us has some unpaid tax liability over several years. Some of the years are the same for both of us and some are not. Can one of us file an Offer In Compromise or must we both file one?
ANSWER:
If you retain me to help you I, of course, want to solve both of your problems with the IRS so you can both rest easy. Therefore, I will have to determine the best way to file your Offer, whether joint or separate. Since you have been filing separate returns, the IRS will generally require separate Offers from each of you. I can do this one of two ways, either two completely separate Offers with independent supporting documentation and sent at different times, or two Offers sent together with one set of supporting documentation. One determining factor will be how you handle your day-to-day finances, e.g. joint bank accounts and if bills are paid from joint funds. The other big factor is how your assets are held, e.g., if one party has significantly more assets than the other. After considering these and other factors, I will be able to decide the best way to submit the Offers to minimize your eventual payment.
I will be happy to talk with you about your situation and detail how I can help