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Divorce Gives Rise to Several Questions Regarding Income Tax Returns

child support

Every year, everyone in the United States who has earned above a certain amount of money during the previous year is required to file a tax return with the federal government. Unless people are expecting a refund, people generally do not look forward to this process. No one likes organizing all of their documents from the previous year to get this task handled, and it can be difficult for people who may be in a position where they will incur a large amount in tax liability. In short, spring can be a tough time for people as much as it is a busy time for CPA’s.

In addition to the complicated and confusing manner in which many tax laws and requirements are written, many people who have obtained a divorce or who are in the process of pursuing a divorce will have questions regarding how this circumstance should be treated on their tax returns. Below are a few common questions that arise that relate to this issue. Husbands and fathers who are encountering the end of a marriage should seek the help of San Diego divorce lawyers as soon as possible.

The Question of Whether to File Jointly

Federal tax law basically says that anyone who was still legally married on December 31 of the previous year can file a joint tax return the following spring. There are generally advantages to doing so in terms of the potential tax liability faced, but obviously every individual situation is different and everyone should seek individual advice with regards to this question. The most obvious potential problem with filing jointly is that if a problem arises with the IRS, both parties will suddenly be involved in a stressful mess.

The Dependency Exemption

One of the biggest advantages to having children when tax time arrives is that there is a deduction available based generally on the expenses incurred in caring for and raising a child. There are often questions that arise regarding which spouse can claim that deduction when the spouses are divorced and they are filing separate returns. Generally, the parent that has custody of the child for more than half of the year can use this deduction, but once again specific situations could lead to a different answer to that common question.

Other Deductions

Depending on the specifics of a particular financial situation, there are other deductions that could become relevant for divorced people. For instance, there are some situations where spousal support can be used as a deduction and others that relate to expenses incurred to handling your financial affairs pursuant to a divorce.

Overall, people tend to have a lot of questions regarding their tax returns if they are involved in a divorce or if they have recently completed such a process. If you are dealing with the end of a marriage, you need to seek the help of San Diego divorce lawyers who have been fighting for the rights of husbands and fathers for many years. Contact the Men’s Legal Center today to schedule an initial consultation.