Divorce and Taxes

July 10, 2012 by  Filed under: Taxes 

When you and your spouse divorce, it’s more than just the loss of what was once a beautiful relationship and an interruption of your children’s security. Divorce brings a set of financial problems and this includes complications in tax preparation. If you’re in the middle of a divorce and you need free tax help, you should meet with a tax accountant who understands federal tax laws as it relates to divorce. If you want to know more about this topic, you can read the tips and guide below.

If you’re filing taxes and got a divorce in the previous year, you would have to file as a married couple if you divorced before Dec. 31 but you have the option of filing separately if you want. If you divorced after Dec. 31 of the previous year, you’ll need to file as a single person. Some tax experts say that it’s better for divorcing couples to still file jointly to reduce complications and stress in tax preparation.

One of the best ways to get IRS tax help for divorce-related tax issues is by hiring a divorce attorney who has also had an accounting or taxation background as a lawyer because he can best explain to you the legal issues that are involved in tax preparation following the divorce. He also stays up to date on the latest changes to federal tax laws as it relates to divorce.

If you and your ex-spouse are filing taxes jointly, make the refund go into your joint account so that both of you will receive an equal share of the refund. If you owe any taxes after preparing the return, both of you should meet with the divorce attorney and possibly a mediator to determine how you both can make the payment.

If your spouse incurred a huge tax debt to the IRS and owes money, you should look into the Innocence Spouse Relief program. You’ll need to fill out a special form in order to get relief in this program and you’ll also need to write a letter stating your financial condition. Another type of relief for people whose ex-spouses owe the IRS money is the separation of liability, where the tax liability is divided between the two of you.

In conclusion, tax preparation is tricky and sometimes difficult to understand when there’s a divorce. But if you get the best IRS tax help and a qualified divorce attorney, the process will go smoother.

Are you looking for more information regarding Divorce and Taxes? Visit http://irshelptax.net/ today!

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