IRS Equitable Relief: What Is It?
When a person is not qualified for innocent spouse relief or separation of liability relief, equitable remedies are necessary. The IRS has a tremendous deal of latitude when it comes to equitable remedy. After reviewing all the evidence, the person processing the claim can conclude that the individual who filed is not liable for the tax debt. Having an expert like taxreliefprofessional.com by your side can prove to be fruitful when you are dealing with such tricky situation.
Who can apply?
This can occur if the tax return’s numbers are all off and the total sum was not paid correctly. It can also be used by people who may have had a general understanding of their spouse’s tax issues but did not completely understand how serious things actually were.
Role of IRS
The IRS will consider a variety of facts to determine whether a claim is eligible for equitable relief. They will take into account the present marital situation as well as the reason the spouse approved the yearly tax returns while knowing there might be an issue. The aggrieved party may not be held liable for the fines if they had a reasonable expectation that their spouse would make the required payment or would work out a payment plan with the IRS. The IRS will also take into account whether withholding a portion of the tax return will put the injured party in a very difficult financial situation or not.
Proper information is necessary
When requesting this kind of relief, it’s crucial to provide the IRS with as much information as you can because this is typically their final choice. It is better to collect and prepare all the proof necessary to prove one’s innocence and present them before the IRS agent when the time comes.