Marriage is a wonderful thing. It’s the beginning of a family, a way to express to that special someone that they’re the only one for you. However, is marrying someone with IRS tax issues a wise decision? Will their issues with the IRS have a negative impact on your own situation? Understanding the answers to these questions is very important.
It Won’t Add to Your Tax Burden
First, it’s important to understand that any tax problems incurred by your soon-to-be spouse before your marriage will not become your problem. It doesn’t matter how much your fiancé owes the IRS. If the debt was incurred before you tie the knot, it’s your spouse’s problem, not yours. He or she should seek tax resolutions with an IRS tax problems expert to help keep those problems from growing, though.
The Real Situation
While you won’t be directly affected by back taxes or other financial problems incurred before your marriage, everything isn’t rosy here. For instance, repaying those back taxes will require money – that’s money that could be put toward other uses in your marriage. So, while your personal tax situation won’t be affected, the overall financial health of your household will be.
There are other issues here, as well. If your fiancé has tax problems, it speaks volumes about his or her character. You might love that person more than anything in the world, but it’s highly advised that you make sure your fiancé takes care of those tax problems before you tie the knot. It’s indicative of a lack of responsibility. If your intended doesn’t take steps to rectify the tax situation, how will they keep from incurring further tax problems down the road once you’re married? Moreover, once you tie the knot, any new problems can become yours as well, unless you can prove that you were completely ignorant of those new issues.
In the end, it’s really the best course for both parties to clean up tax problems and repair credit issues before tying the knot. You want to go into a new relationship as equals in all ways, and one person carrying a massive tax debt isn’t going to let you do that. Your fiancé needs to seek out tax resolutions to help offset the problem and learn how to deal with taxes correctly before the wedding. An expert in tax solutions can help you get onto equal footing.
If you need more information or assistance, then please don’t hesitate to contact one of our associates to review your circumstances.