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Reply to "Spouse Hasn't Filed Taxes in 4 years"
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[quote=Anonymous]Yikes! If he has not paid in five years, 5 k is barely going to make a dent. Also, please tell him that he will be paying interest and paying much more than if he had just done this from the beginning. And, if he is not paying taxes he is not paying in to social security….if he continues on that path then at retirement he will not get it or very little! If he ever does get a traditional job, the IRS may be able to garnish those wages to collect on back taxes, and I think I have heard they can claim your bank accounts. Again, I am not 100 sure but I feel like I have heard these stories. I am self- employed. I have to pay federal income tax, also the employers portion, and finally state. I pay quite a bit. Every year I set up 4 withdrawals ( the site lets you set 4 quarterly payment dates) and then I note these on my calendar. So, I know every 3 months I have a payment of 10k on x date. Every month, I have an automatic transfer of 3k+ go to my linked savings account which is the account the taxes come out of. I use this account only for taxes. He needs discipline. I understand it’s easy to feel like the money you earn is “ all” yours but when you work for an employer they take taxes. It’s the same thing. If he will not then I’d consult a tax advisor or lawyer and see if you should file single so that you are not liable for his debt to the IRS.[/quote]
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