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What is joint and several liability?
Joint and several liability is to a joint return what tenancy by the entirety is to property: it means "both spouses are each entirely responsible for the return and the tax liability and its tax obligations." In general, the I.R.S. ignores any agreements between the spouses about responsibility for taxes; if a deficiency is found, the I.R.S. can pursue either or both spouses for the back taxes and any penalties. |
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