Friday, July 06, 2007
Revised Innocent Spouse Form
Earlier today the Internal Revenue Service today announced a new redesigned Form 8857, which is a request form for Innocent Spouse Relief. The goal of the new form is to help reduce follow-up questions to the form and reduce the overall burden on taxpayers. When a taxpayer files a joint return, both spouses are jointly and individually responsible for the tax. Innocent Spouse relief provides an opportunity for a spouse to be relieved from the joint debt under certain circumstances. If a taxpayer believes that only his or her spouse or former spouse should be responsible for the tax, the taxpayer can request relief from the tax liability. According to IRS estimates, the new design will eliminate nearly 30,000 follow-up letters per year, which will result in a reduced burden, quicker responses to taxpayers, and less cost to the government. For more information check out the IRS’s website.
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July
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- IRS to Begin Increasing Amount of Audits
- Group of Tax-Exempt Firms Owe Over $1B in Taxes
- New Audi R8 Spider Sketch
- 5 Mistakes That Can Tax Your 401(k)
- New IRS Electronic PIN Signature Requirement
- National Taxpayer Advocate Releases Report on Tax ...
- U.S. Honda Open of Surfing Begins
- New Ferrari F430 Scuderia Announced
- Roni Deutch Tax Center Offering Incentive To Veterans
- Largest Tax Fraud Case Ever Thrown Out
- IRS Claims Electronic Excise Tax Filing Is Coming
- Courts Decided, Mental Anguish Awards Are Taxable
- Congress to IRS, Conduct More Audits!
- California Lawmaker Pushes For Sex Tax
- New Tax Foundation Newsletter
- Bugatti Veyron at the 2007 Prescott Hill Climb
- Revised Innocent Spouse Form
- Most States Not Raising Gas Taxes
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