Many couples file joint tax returns because in most cases it lowers their tax.  When filing jointly, however, both people are liable for the tax and any assessments imposed against the return.  This joint and several liability even survives the couple's divorce.  Joint and several liability means that each taxpayer is legally responsible for the entire liability. The IRS has provided for three types of relief from joint and several liability for spouses who filed joint returns.

For some the only hope of relief from unmanageable federal tax debts may be the statute of limitations on collection. In theory, the IRS has only 10 years from the date of assessment to collect. However, this 10-year limitation has many exceptions, waivers and overlapping extensions such that in all but the simplest of cases computing the correct “collection statute expiration date” is quite difficult.

Alabama has passed into law the most impressive set of economic development tax credits in decades. 

When couples divorce, property transfers and alimony payments will usually result in a substantial tax impact to the parties.

I have provided 5 often overlooked tax deductions that just might save you real money on your taxes this year.

The IRS has announced updated procedures for taxpayers to file overdue FBAR (Foreign Bank Account Report) foreign account disclosures.  

Pension benefits and retirement savings often constitute a client’s most valuable assets, and are viewed as a safety net. 

The Affordable Care Act is about to collide with the U.S. tax-filing season, adding frustration for millions of taxpayers trying to figure out how to comply and how much they will owe the government.