Malorie

Form 8379: Allocation for Injured Spouse.

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Form 8379: Allocation for Injured Spouse How long do I have to file an injured spouse claim? If you are married and filed a joint return, you and your spouse are both responsible for the tax and any interest or penalties due on the return. This is called joint and several liability. If you file … Read more

Net Profits Interest.

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A Net Profits Interest (“NPI”) is a type of economic interest in an entity, typically a business, that entitles the holder to a share of the entity’s profits, net of expenses. The NPI is a contractual right, typically granted in connection with a transaction or relationship between the holder and the entity, such as an … Read more