Perspective
Mar. 14, 2012
Innocent spouse gets double the protection
The IRS has recognized that an indemnification clause is actually a reason to grant innocent spouse status, not deny it. By Mitchell A. Jacobs and Jennifer Morra of the Law Office of Mitchell A. Jacobs.
A new revenue procedure has been proposed that provides guidance regarding equitable relief from income tax liability under Internal Revenue Code Sections 66(c) and 6015(f (the "innocent spouse" statutes), and overturns previous case law holding that the inclusion of an indemnification provision in marital settlement agreements may prevent a party from claiming innocent spouse status. This proposed revenue proced...
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