In a column published on 4/15 in the Daily Business Review, Family Law Attorney Rebecca Palmer provides practical guidance on how to handle tax filing during and after a divorce, focusing on key decisions and common issues that arise. For example, Palmer states that your marital status on December 31 determines your tax filing status for the year.

“Filing jointly often provides better tax benefits, like a higher standard deduction and access to certain credits due to income thresholds and dependents,” Palmer writes. “However, both spouses share responsibility for any owed taxes and penalties.”

It is crucial to keep all financial records, including copies of earlier tax returns, divorce agreements, and correspondence with your ex-spouse regarding tax matters. If you filed jointly before separating, the IRS will issue a single refund check, which should be distributed equitably between the two former spouses.

“Filing taxes alone in post-divorce time can feel overwhelming, but proper preparation can make it manageable,” Palmer writes. “Divorce brings manyfinancial changes, but with the right strategy, you can embody Ben Franklin’s adage – make haste, not waste in your post-divorce life.”

Read the story in full; click here (subscriber-based).