Hello, Right after I married my wife in 18 years ago, she revealed she had nearly $50K in CC debt. Her biz was floundering & creditors were threatening to lock her bank accounts w her clients deposit$ in them. I moved the deposit $ into my account, had clients make some checks to me or she co signed them to me; in a few years we paid off all her CC debt (I took no salary). Then she screwed me w IRS leaving me on the hook for the $ that went thru my bank. If I have to explain all this to IRS or divorce judge, is what I did illegal (aside from stupid)? TIA.
1 Answer from Attorneys
There's probably some violation in here somewhere. But it doesn't make sense to worry about something which may happen some day in the future (and probably never will). Not a good use of energy.