Category: Federal Income Tax

1099 vs w2 which is better for employee
Federal Income Tax
1099 vs W2: Which Is Better for Employee?

Some people get 1099s and others get W2s. You can deduct expenses with a 1099, but W2 pays a lower tax rate. Learn which is better for you.

irs 10 year rule
Federal Income Tax
What is IRS 10 Year Rule

The IRS 10 year rule limits a beneficiary receiving IRA distributions. But there are differences between Traditional and Roth IRAs.

who pays back taxes after a divorce
Federal Income Tax
Who pays back taxes after a divorce?

Both spouses still owe joint tax debt – even after the divorce. But there are a few ways to get rid of your share of the tax liabilities.

what happens if you marry someone who owes back taxes
Federal Income Tax
What happens if you marry someone who owes back taxes

Marrying someone and then finding out that they have back taxes doesn’t make you liable to pay your spouse’s tax debt.

types of innocent spouse relief
Federal Income Tax
What are the Types of Innocent Spouse Relief

There are three types of Innocent Spouse Relief: separation of liability, innocent spouse relief, and equitable relief. Which one do you qualify for?

injured spouse vs innocent spouse
Federal Income Tax
Injured Spouse vs. Innocent Spouse – What is the Difference?

Innocent spouses can be let off the hook completely, but not injured spouses. But the requirements for claiming each are different.

what happens if your spouse owes taxes
Federal Income Tax
What Happens If Your Spouse Owes Taxes

If your spouse owes taxes, then you’re on the hook for them too. But there are exceptions (married-filing-single, innocent spouse, injured spouse).

can a spouse sign a tax return for the other spouse
Federal Income Tax
Can a spouse sign a tax return for the other spouse?

Sometimes a spouse can sign a tax return for the other spouse. But there are other instances where it’s prohibited. Learn the difference.