Getting married? Getting divorced? Both of these could possibly put you into a tax pitfall. This episode will discuss a case where a wife signed a joint tax return that ended up being fraudulent upon IRS examination. The wife was unaware of the fraud and still was on the hook for penalties and potential criminal activity. The other case we will discuss is a newlywed couple that was married late in the year. The couple did not get get advice that could have saved them thousands of dollars in health care subsidy repayments. In both cases this could have been avoided with careful tax planning.
CPAofFlorida the WOW Podcast is hosted by the mother daughter team of Janet Noack, CPA and Andrea Dillon, CPA.