Showing posts with label tax return. Show all posts
Showing posts with label tax return. Show all posts

Tuesday, July 1, 2025

Colorado Springs: Facing Your Spouse’s Tax Debt? How Professional Help Can Ease the Stress


Navigating the complicated currents of joint tax obligations can often leave taxpayers feeling overwhelmed and vulnerable. This is especially true when one finds themselves unexpectedly liable for their spouse’s tax debts. For many, the first step in relieving this burden lies in understanding whether they qualify for Innocent Spouse Relief and when to seek professional assistance.

Feelings of embarrassment, annoyance, and shame often cascade when facing unexpected tax liabilities. These emotions can become paralyzing, particularly when compounded by the intimidating prospect of dealing with the IRS alone. An Enrolled Agent or tax professional can serve as a lifeline, eager to navigate these murky waters alongside you, ensuring that you regain confidence and control over your financial future.

Professional guidance becomes critical when taxpayers feel overwhelmed by the stress of impending penalties or potential tax liens. Tax professionals adeptly eliminate these burdens, offering peace of mind by managing communication with the IRS and halting its aggressive collection tactics. They also facilitate the accurate filing of Form 8857, ensuring all necessary documentation is provided to support a claim for relief.

With expert intervention, taxpayers can avoid feeling isolated and victimized by the intricacies of tax law. Enrolled Agents act as your advocate, transforming a daunting process into a manageable one, and guiding you every step of the way. Through their support, you can dispel feelings of exposure and vulnerability, replacing them with hope and optimism for a financially stable future.

Seeking professional help not only means tackling tax issues head-on but also regaining your confidence in the process. With the right partner, you can confront the complexities of tax compliance without fear—knowing you are no longer alone in your journey.

Take the first step towards financial peace today! Click here and complete our New Client Questionnaire and let us help you navigate your tax challenges with ease and expertise.

525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com

Monday, October 30, 2023

Colorado Springs: Do I Have to Pay My Deceased Spouse's Overdue Self-employment Tax?

 


For any industry where you or your spouse are self-employed, the self-employment tax is a common issue.  This can especially be true when your spouse is a truck driver.  Often times a low cost tax preparer is used to save money.  Sadly, though this often results in a poorly prepared tax return missing countless deductions.  Sometimes I have encountered cases where a married filing joint tax return was electronically filed without one spouse's consent.  There was a significant amount of self-employment tax and income tax due.  The non-consenting spouse may not have filed jointly if she had known the amount due on the tax return.  Then the spouse who filed the tax return suddenly and unexpectedly dies.  Leaving the surviving spouse with a large tax bill.  Is the surviving spouse required to pay the unpaid taxes?

Under Internal Revenue Code Section 6015 (b), the surviving spouse may qualify for Innocent Spouse Relief after consideration of the the facts and circumstances,  Marcelino Dodge, EA, CTRC has helped taxpayers obtain this relief after a thorough and careful review of their complete situation.


Cash Tracks Financial of Colorado Springs
Marcelino Dodge, EA, CTRC
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
www.cashtracksfinancial.com
success@cashtracksfinancial.com

Colorado Springs: Caught in a Tax Nightmare Caused by Someone Else’s Spending? There’s a Way Out

In the whirlwind of managing a business, the line between personal and professional finances can quickly blur. This confusion often leads to...