From the Family Law Taxation blog: In order for a taxpayer to be entitled to the dependency deduction, the taxpayer must satisfy rather explicit statutory requirements. In the case of a divorce or separation, this can be particularly difficult for the individual that does not have custody (referred to as the "noncustodial parent") — even… Continue Reading
Tag Archives: tax
Tax Mistakes to Avoid During Divorce
Posted in Divorce, Financial Issues, Tax IssuesReasons to consider filing your taxes separately from your spouse: You don’t trust your ex. When you sign a joint return, you can be equally liable for all taxes, penalties and interest owed. If your ex-spouse doesn’t pay, the IRS can come after you for the whole amount. However, you might be able to claim… Continue Reading