Divorce And Taxes

Ending a marriage has its own tax-related implications. With the help of tax experts, we consult with our clients on the tax consequences they may face as part of a divorce. Starting the next chapter of your post-divorce life should not have to involve the financial uncertainty that comes with avoiding tax liabilities and penalties, IRS audits, or other serious consequences.

At the Law Offices of James O. Bass, P.C., our attorneys provides personalized representation for those who need help understanding the relationship between divorce and taxes. We will take your financial and tax situation into account when recommending your next steps in divorce.

Facing Tax Challenges On Your Behalf

Divorce-related discussions that revolve around child custody usually focus on the schedules all parties will follow after the divorce has been finalized. However, tax issues, including "head of household" designation must be addressed between the custodial and noncustodial parent. Advantages exist for the spouse considered the head of household. Tax burdens are reduced for the parent who can claim a child as a dependent.

In addition, spousal support is tax-deductible for the ex-spouse paying. For the receiving spouse, alimony is additional income subject to taxes. Child support is not taxable.

While a noncustodial parent can claim a child as a dependent under a prior agreement negotiated with their ex-spouse, child care credits can only be taken by the custodial parent. No "trades" in that area are allowed.

We Help Our Clients Need Through Innocent Spouse Relief

Mistakes made in past joint tax filings can be worked out if both parties cooperate. However, if a divorce is contentious, two divorcing spouses working together may present challenges. Some marriages had one spouse filing the joint returns, only to under report income without informing his or her spouse. In those cases, Innocent Spouse Relief requests are pursued to exempt that unknowing spouse from tax liabilities.

When we finish our work with you, we want you to feel that all divorce and tax-related issues have been handled with professionalism and to your long-term, lasting benefit.

Contact the Georgia divorce lawyers at the Law Offices of James O. Bass, P.C., by calling 770-628-1136 or emailing our firm.