Reply To: Interesting Potential Client – Notice of Deficiency

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#11407
James Wade
Participant

Eric,

Thank you for getting back so quickly. I just wanted to add something I did not explain in the earlier email (apologies). There was no joint return, the couple filed separate returns. The business was a flow-through entity and she was allocated income through a K-1. So no innocent spouse.

I am interested in your thoughts as to what to do about a situation like that. I know the PC wants to challenge it but the facts seem very muddy. The money earned was apparently spent by the family on bad investments and some land out in New Mexico (though that appears to be the ex-husband’s fault).

Thank you again. Well worth the monthly payment!

Jim