Alternative Business Solutions
1400 Candlelight Dr #247
Eugene, Oregon 97402
Tel: 541.636.4779
Fax: 866.670.8050
Email:
books@absveneta.com
Injured Spouse
If married, your choices for filing status is generally married filing joint and married filing separate (there is a exception if you do not live with your spouse).
What if one spouse has arrears child support, back taxes, etc? If a refund occurs, in most cases the refund is taken by the IRS/ODR prior to you receiving it.
Solutions:
File married filing separate.
Disadvantages:
Loss of Earned Income Credit
Loss of Child Care Credit
Loss of Education Credit
Loss of Student Loan interest deduction
One possible alternative:
File under Injured Spouse Exception
With this election, you can still file married filing joint, and receive some/all of the above credits. You must allocate income, children, deductions between each spouse. Depending on your specific situation, you could receive up to 100% of the refunds/credits and no amount will be taken away for back debts due to the other spouse. It takes the IRS about 8 weeks to process these tax returns.
Taxes done right by Bob Bucholtz. Bob graduated from the University of Oregon in 1979 and became the owner of a small corporation until 1996 when he became an Oregon Tax Consultant.
Specializes in all types of tax returns such as:
Fees: Vary by Tax Return
We are here to serve your tax preparation needs. We can resolve the majority of your tax issues. Whether you are current or behind on your tax filings, we can help you. Call today with your tax issue.
For tax questions, please call Bob at 541-344-5948