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I have IRS debt with my ex spouse of 30k from his failed small business. During our divorce agreement, he agreed to pay 100% of this debt. Ex spouse has been refusing to make any payments or contact the IRS about a payment plan since 2019 despite divorce agreement and a previous court order.
I understand from a mortgage approval perspective, the IRS debt is shared despite our agreements. I have recently filed for another court hearing to force ex spouse to make a payment plan but I am not holding out hope.
I have cash saved, very good credit, low overall debt but the IRS debt is holding me back! Looking for advice...should I start making payments? If he WAS making payments like he was supposed to, would I have had to include "his" payments in my monthly debt anyways since it's in my name as well? The penalties and interest keep me up at night..... I know it needs to be paid asap but really wondering if I have to include the monthly payment despite "who" pays for it. Anyone in a similar situation.
I'm very sorry about your situation. It's unfortunate as it's likely to hold you up from being approved for a mortgage.
Fannie Mae guidelines say if your ex is liable for the debt per court order and you can show that 12 payments have been made, the debt can be excluded from your ratios. Sounds like that's not possible in your situation, though. Guidelines also read that when it comes to IRS debt on a payment plan, a borrower must have made at least three payments before being eligible for a mortgage.
My attorney just put in a statement into my Divorce Agreement - I have the right to file for Innocent Spouse Relief and that ex spouse must cooperate. I have contacted my tax accountant for help with that. Great advice!
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