We are thrilled to announce that Prestige Accounting Services Group (previously Prestige Wealth Accounting Group) has joined forces with Bacchetta & Company in an exciting new partnership!

How Do You Qualify for Innocent Spouse Relief from IRS Tax Problems?

Few financial events are worse than a big tax bill with penalties from the IRS. If you are a spouse and you were unaware of potential errors or underreporting on your tax return, you may be eligible for innocent spouse relief. 

To qualify for innocent spouse relief, you must meet all three of the following conditions:

  1. You and your spouse filed jointly, and your tax bill was understated solely because of one or more errors that your spouse made. These errors, or willfully improper entries, only apply to income and deductions that belong to your spouse. They include improper deductions and credits, incorrectly reporting basis in property such as securities and business inventory, under-reporting income, or omitting items.

  2. You must establish that you didn't know your spouse did this and had no reason to know when you signed your tax return.

  3. Prove that considering the facts and circumstances surrounding your case, it wouldn't be fair to hold you responsible for the resulting underpayment. 

If your spouse is not transparent about finances with you, and you didn't find out about what they did until long after the tax return was filed, you're more likely to qualify for innocent spouse relief.

If the above scenario matches your personal circumstances, it might be time to get professional help. It is important that you put together a well-documented response when applying for innocent spouse relief. Contact this office to learn how we might be able to help resolve your tax issue.

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More About Us

Get to Know Prestige Accounting Services Group (previously Prestige Wealth Accounting Group)


Offices in Flemington, NJ and Califon, NJ

Our Mission: At Prestige Accounting Services Group (previously Prestige Wealth Accounting Group), we are on a mission to redefine the tax experience for individuals and small businesses. With a focus on personalized service, strategic planning, and expert guidance, we aim to empower our clients to succeed financially with confidence and ease.

Expertise in Action: With a wealth of experience and a team of dedicated professionals, we specialize in individual and small business tax preparation. While we excel in all areas of taxation, our passion lies in serving the unique needs of small business owners in New Jersey. We understand that small business taxation requires specialized knowledge and attention to detail, which is why we go above and beyond to ensure our clients receive the guidance and support they deserve.

Tailored Solutions for Every Client: Whether you're a high-net-worth individual seeking comprehensive tax planning or a small business owner in need of accounting and bookkeeping assistance, we have the expertise to meet your needs. Our team takes the time to understand your specific situation and develop customized solutions that align with your goals and objectives.

Why Choose Us?: What sets us apart from other New Jersey tax firms is our commitment to excellence and innovation in the field of taxation. We don't just prepare tax returns; we provide strategic insights, proactive planning, and actionable advice to help our clients achieve their financial goals. With a team of two CPAs, an EA, and an ERO, we have the expertise and resources to deliver exceptional service and results.

Your Success is Our Priority: At Prestige Accounting Services Group (previously Prestige Wealth Accounting Group), we measure our success by the success of our clients. We are dedicated to building long-lasting relationships, providing unparalleled service, and helping our clients thrive in today's ever-changing tax landscape.

We can't wait for you to experience the Prestige Accounting Services Group (previously Prestige Wealth Accounting Group) difference.

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