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The Guide to Filing Taxes After Divorce
03 Mar, 2024

The Guide to Filing Taxes After Divorce

Divorce can be stressful and complicated, and filing taxes after divorce can add another layer of complexity. If you are going through or have recently finalized a divorce, it’s crucial to understand how your tax situation may have changed and what steps you need to take to ensure you file correctly.

Here is a quick guide to filing taxes after divorce:

1. Update your marital status with the IRS

One of the first steps you should take after a divorce is to update your marital status with the Internal Revenue Service (IRS). Your IRS status will affect your tax rate, deductions, and credits. On your tax return, you must indicate whether you are single, married, filing separately, or head of household. A family law attorney can give you specific guidance to assist you regarding your status and income bracket.

2. Determine your filing status.

Your filing status will depend on your marital status as of December 31st of the tax year. If you were still married on that date, you can choose to file jointly or separately with your spouse. If you were divorced on or before December 31st, you must file as single or head of household.

3. Consider child custody arrangements.

If you have children and share custody with your ex-spouse, you must determine who will claim them as dependents on your tax return. Generally, the custodial parent (the parent who has the child for most of the year) will claim the child as a dependent. However, you can negotiate a different arrangement in your divorce agreement.

4. Review your divorce agreement.

Your divorce agreement may have tax implications that you must be aware of. For example, if you are receiving alimony, it is considered taxable income, and you must report it on your tax return. Similarly, you can deduct it from your taxable income if you are paying alimony.

5. File for an extension if necessary.

If you are going through a divorce or recently finalized one, you may need all the necessary information to file your taxes by the deadline. In this case, you can file for an extension. Filing an extension will give you six more months to file your tax return, but you will still need to pay any taxes owed by the original deadline.

6. Seek professional help if needed.

Suppose your divorce is particularly complex, or you have questions about filing your taxes. In that case, seeking professional help from tax specialists and divorce attorneys is always a good idea. A tax accountant or attorney specializing in divorce can help ensure that you are filing correctly and taking advantage of any tax breaks or deductions.

Filing taxes after divorce can be a complex process, but it’s essential to take the time to understand your new tax situation and ensure that you are filing correctly.

Contact our attorneys if you need assistance with asset division and taxes after divorce.

SLG Family Law is the ultimate destination for couples looking to divide marital property equitably and continue tasks like paying taxes and debt. Their highly qualified and experienced family law lawyers are trained to provide the best legal advice and understand the tax implications of that division. With years of experience and expertise, the lawyers at SLG Family Law can assist married couples in coming to an amicable resolution while protecting their financial interests with minimal stress. 

Our commitment to understanding each family’s unique circumstances and providing customized solutions truly sets us apart as a leader in the legal industry. Contact us today.



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