4.6 • 682 Ratings
🗓️ 17 July 2025
⏱️ 10 minutes
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0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
0:06.7 | All right. Today's question comes from Alice in Montana. My husband and I have been married for 21 years, |
0:12.0 | and we had weathered financial struggles, including a past bankruptcy. I had a solid nursing career |
0:17.0 | that allowed him to pursue real estate full-time. And in 2021, we had a strong year. We owed |
0:22.9 | $82,000 in taxes for the year, and the money was available in his business account. I trusted |
0:28.7 | him to handle everything, but I recently discovered he never paid the IRS. Instead, he used the money |
0:33.4 | on business expenses in a failed side venture without telling me. Our CPA tried contacting him |
0:39.5 | for months and eventually filed our taxes without signatures in early 2023 to avoid penalties. |
0:46.1 | My husband also hid IRS notices for me. I found out recently when I signed for a certificate |
0:52.4 | letter stating that the IRS intends to levy our home for $150,000, I feel blindsided and portrayed. |
0:59.5 | My question is, should I buy him out using a second mortgage to cover the IRS or sell the home and walk away? |
1:07.4 | Ooh. |
1:08.6 | Gosh, Alice. |
1:10.4 | Bye. |
1:28.4 | Oh, she's divorcing him. I don't know why you would buy him out. Buy him out. Buy him out means you're divorcing. I guess. I don't know what that means. You don't buy out somebody you're married to. Bail him out. Do I bail him out? Maybe just pay for it. I don't know. You can bail out your husband. |
1:30.7 | Do you use the second mortgage or do you sell the house? |
1:35.3 | Is that all the penalties? |
1:38.4 | But $82,000 and I'm confused, but they filed, |
1:42.0 | the CPA filed their taxes without signatures? |
1:43.0 | Yeah, that's weird. That's illegal. |
1:45.0 | Okay. |
1:46.0 | It's a good way for the CPA to end up in jail. |
... |
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