If my new husband owes the IRS, will this affect my credit?

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If my new husband owes the IRS, will this affect my credit?

I I’m married and my husband owes the IRS every year. I have not worked since we married in 2009. My husband would like to file me on his taxes. I am concerned because he owes the IRS at least 100k yearly. I do not make financial decisions in our marriage. I am concerned that this will affect my credit.

Asked on February 10, 2011 under Family Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

You are right to be concerned, sinice in filing a joint return, you take responsibility for the return. More generally, if it should happen that there is a tax judgment or tax lien against your husband, any joint assets could be targeted, which means there may be some advantages to keeping your own finances separate. However, weighed against those factors is that filing jointly may afford tax advantages. You should consult with a tax expert--possibly a tax attorney or an experienced CPA--about the ramifications of different ways of filing; you need someone to evaluate your and your husband's situation in detail. If you should choose to file jointly, make sure you understand and are comfortable with your husband's finances, how he pays taxes, etc., since again, by filing jointly, you accept responsibility.


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