- 11 - Where, as here, the requesting spouse meets the five threshold conditions set forth in Rev. Proc. 2003-61, sec. 4.01, we employ a balancing test to determine whether, taking into account all the facts and circumstances, it would be inequitable to hold the requesting spouse liable for all or part of the unpaid liability. Id. sec. 4.03, 2003-2 C.B. at 298. We begin by considering petitioner’s request for relief in the light of six factors listed in the revenue procedure. A description of each factor, underscored, and our application of that factor to the facts of this case, follows.5 (a) Marital status. The requesting spouse is separated or divorced from the nonrequesting spouse. The parties agree that petitioner is divorced from Dr. Geaccone. This factor weighs in petitioner’s favor. (b) Economic hardship. The requesting spouse will suffer economic hardship if relief from the liability is not granted. Petitioner did not present any evidence tending to show that she would suffer economic hardship if relief from liability were not granted. We note that petitioner earned substantial income in 5These six factors are found in Rev. Proc. 2003-61, sec. 4.03(2)(a), 2003-2 C.B. at 298. Additional factors that, if present, will weigh in favor of relief but will not weigh against equitable relief if not present in a case are found in Rev. Proc. 2003-62, sec. 4.03(2)(b), 2003-2 C.B. at 299. Neither of those factors, pertaining to abuse and mental or physical health, is present in this case.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 NextLast modified: November 10, 2007