Getting married means you get to share almost everything with your spouse – your life, a home, food, bills, and more. But one thing you don’t have to share is your tax return. The truth is, it just depends on your preference on if you would rather file jointly or alone, but an IRS tax lawyer can help you figure out what is best for your situation. There are only 5 percent of people who are married that file taxes separately according to the Internal Revenue Service. It’s odd that this percentage is so low when in actuality it may be more beneficial for you both to file separately. Certified Public Accountant, Joseph Boyce stated, “ About 95 percent of married people are better off filing jointly. It’s a lower tax rate. Married filing separately is actually the highest tax rate.”
Forty percent of the workforce will retire in about four years. Comparatively, employees under 30 years of age are only at about three percent of the work force. Those working for the IRS are typically of an older generation, and millennials often assume that the technology used is outdated and the establishment as a whole can come off as a storied bureaucracy. The IRS is making a consorted effort to recruit millennials and those of a younger generation and groom them to be tax professionals such as IRS tax attorneys or accountants. Working for the IRS is not viewed as a glamorous company to work for, but many believe that perception should change.
Many people are confused about the specific debts that bankruptcy relieves. If a Sacramento tax attorney is required, it’s important to understand bankruptcy as it applies to tax debt relief. There are several ways to file bankruptcy, and in most cases filing will not relieve tax debt. However, there is information that should be known. In some cases, a bankruptcy can relieve your tax debt, but often not in full, and generally they still might be able to collect at a later date. TheBankruptcySite.Org explains:
The moment you file a consumer bankruptcy, a mechanism called the “automatic stay,” or auto-stay, stalls most legal proceedings and prohibits your creditors from continuing collection efforts. This means creditors can’t sue, garnish, bill, or call you, or otherwise attempt to collect a debt you owe. The auto-stay applies to the IRS as well.