Income Taxes for Divorced Couples Don’t Have to Be … Taxing

Our Founder and Managing Partner, Rebecca Palmer, published an article on 3/14 regarding navigating filing for taxes while going through a divorce. Rebecca details the importance of timing, how to claim your dependents, assess your assets, and successfully work with your ex-spouse to ensure the process runs smoothly and seamlessly.

Further, Rebecca advises the importance of considering tax season for couples going through a divorce, stating, “While you are navigating the legal aspects of your split, it is important to remember that the change in your legal marriage status affects your tax situation as well. The IRS considers a couple to be “married” regarding their filing until the court issues the final divorce decree documents.”

“Working with your ex-spouse before the deadline is better to prevent penalties and interest charges that can stem from filing incorrectly. Like the counsel a legal professional can provide in the divorce process, connecting with a tax or accounting professional for advice is essential,” says Rebecca regarding the importance of communicating with your ex-spouse and seeking professional support. 

To read the story in full, click here (subscriber-based).