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Divorce & IRS Debt: What You Don’t Know Can Hurt
Episode Summary:
In this eye-opening episode, tax attorney Lance Drury unpacks the complex relationship between IRS tax liabilities and divorce proceedings. From misconceptions about liability division to the nuances of Innocent Spouse Relief and the limitations of divorce agreements, this episode provides essential guidance for anyone navigating a separation with outstanding tax debt. Lance also shares powerful real-life examples, explains why the IRS isn’t bound by divorce court rulings, and offers key advice to protect your financial future.
Key Timestamps:
00:01 – Show Introduction
01:42 – How IRS debt is treated in divorce court
04:10 – Shared liability after divorce and real-life case study
07:20 – Innocent Spouse Relief explained and when it applies
11:06 – IRS responsibility in jointly filed returns
12:58 – Role of timing in IRS collection and statute of limitations
17:25 – Insights on IRS staffing, delays, and taxpayer frustration
22:15 – Legal team structure and importance of skilled attorneys
25:18 – Why divorce agreements can’t override IRS enforcement
28:00 – Best advice for divorcing individuals with IRS debt
About the Show:
“Resilience and Resolve with Lance Drury” provides practical legal insights into IRS matters, tax law, and financial defense strategies. Each episode explores timely and complex tax issues with real-world examples and expert analysis from Lance Drury and his experienced legal team.
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By resilienceandresolveEpisode Summary:
In this eye-opening episode, tax attorney Lance Drury unpacks the complex relationship between IRS tax liabilities and divorce proceedings. From misconceptions about liability division to the nuances of Innocent Spouse Relief and the limitations of divorce agreements, this episode provides essential guidance for anyone navigating a separation with outstanding tax debt. Lance also shares powerful real-life examples, explains why the IRS isn’t bound by divorce court rulings, and offers key advice to protect your financial future.
Key Timestamps:
00:01 – Show Introduction
01:42 – How IRS debt is treated in divorce court
04:10 – Shared liability after divorce and real-life case study
07:20 – Innocent Spouse Relief explained and when it applies
11:06 – IRS responsibility in jointly filed returns
12:58 – Role of timing in IRS collection and statute of limitations
17:25 – Insights on IRS staffing, delays, and taxpayer frustration
22:15 – Legal team structure and importance of skilled attorneys
25:18 – Why divorce agreements can’t override IRS enforcement
28:00 – Best advice for divorcing individuals with IRS debt
About the Show:
“Resilience and Resolve with Lance Drury” provides practical legal insights into IRS matters, tax law, and financial defense strategies. Each episode explores timely and complex tax issues with real-world examples and expert analysis from Lance Drury and his experienced legal team.