My wife and I file jointly, but we have separate bank accounts. Is there any penalty or gift tax if I pay off her loan balance of $32,000?
If I filed an extension with my wife as filing jointly/married can I change it and file as married filing separately and go ahead to file my return now?
Can we file jointly even though my wife of 66 years is currently in an assisted living facility located in another state? I hold the power of attorney.