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One of the problems that keeps spouse's filing separately is that one spouse had tax, child support, or student loan debt that results in the couple's entire joint refund being taken to satisfy the debt.
Such a spouse is known as an "Injured Spouse," and this video tells you how an "injured spouse" can claim his or her portion of a joint refund, even after the IRS has already taken it!
0:00 Introduction
0:34 What is an "Injured Spouse?"
2:48 The Injured Spouse Allocation (with an example)
7:06 Conclusion
For more about the advantages and disadvantages of filing jointly v. separately, click here: • Married Filing Joint v...
For more about the American Opportunity Credit, click here: • The American Opportuni...
To learn the difference between refundable and non-refundable tax credits, click here: • Refundable v. Non-refu...
Additional Resources and Information:
IRS Form 8379: "Injured Spouse Allocation": www.irs.gov/pu...
IRC Rev. Proc. 25.18.5 "Injured Spouse" (show how the IRS generally makes the allocation): www.irs.gov/ir...
IRS Publication 555: "Community Property": www.irs.gov/pu...
Investopedia: "What Is Form 8379: Injured Spouse Allocation? Definition": www.investoped...
The Tax Geek on Twitter: www.twitter.com@taxgeekusa
The Tax Geek on Reddit: www.reddit.com/r/askataxgeek
Image/Video Sources:
Storyblocks.com
The images of "Earnest," "Winifred," "Mackenzie," and "Allison" were generated by thispersondoesnotexist.com (stability.ai) and any resemblance between these images and any person, living or dead, is coincidental and not intended. No other artificial intelligence was used to research, write, animate, voice, or edit this video
Intro Music: "Bluesy Vibes" - Doug Maxwell - KZbin Audio Library
Outro Music: "Modern Attempt" - Track Tribe via KZbin Audio Library
DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or financial advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or financial professional.
The information in this video is current as of date of publication, and is subject to changes.