Separating from your spouse can be an emotionally trying experience. You might be exhausted from the negotiations for property rights, child support, visitation, and other issues. Now imagine throwing a tax return into the mix! The IRS determines your filing status for the entire tax year based on the final day of that tax year. So, even if you’re already in divorce proceedings, if you’re still legally married on December 31, you’ll have to consider your filing status carefully.
If you lived apart from your spouse for at least the last six months of the year, maintaining a separate home for yourself and any dependent children, you may be able to file your taxes as a Head of Household. If that’s not an option, you can choose the Married Filing Separately status, in which you and your soon-to-be-ex spouse file separate returns, also itemizing any deductions separately. Are you concerned about how a spouse’s financial wrongdoing will impact you after you’ve divorced? You may want to look into innocent spouse relief.
In order to ensure accuracy and to get the best possible outcome in your dealings with the IRS, it’s vital to work with a tax resolution specialist. In Cincinnati and the surrounding area, you can trust Taxation Solutions, Inc. for advice on and assistance with completing your taxes during and after a divorce. Contact us today to book your appointment!