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You are here: Experts > Business > Corporate Law > Tax Law (Questions About Taxes) > amended joint return after divorce
Expert: John Kirk, CPA
Date: 9/24/2008
Subject: amended joint return after divorce
Question
Dear Mr Kirk,
My wife and I filed a joint tax return in 2006. We were divorced in 2007. Our divorce decree states that we would file a joint return for 2006, which we did. My wife owns an S-corp. The K-1 for 2006 showed a profit. She now claims to have found large losses for her business that occurred in 2006, and wants me to file a joint amended return, based on a revised k-1. I am uncomfortable with this, as I don't know anything about the losses or how they occurred.
Question 1: Am I obligated to sign an amended return that includes these losses?
Question 2: What are potential pitfalls of signing such an amended return?
Question 3: I have no idea whether these new losses are legitimate. By signing an amended return, am I basically saying that I agree that these losses are legitimate?
Thanks for your help,
Scott
Answer
You can file the amended return without worrying about the ramifications if the losses are not legitimate. The IRS allows you to avoid litigation under the Innocent Spouse Provisions of Code Section 6015 and filing of form 8857 when a demand for tax owed is issued.
John Kirk, CPA
www.johnkirkcpa.com
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