Topic 6: Tax time and more

Hi there,

April 15th is coming up fast.  If you are divorcing, or if you are divorced, your taxes will be different and you will have a number of new items to consider.  I just came across a good article by Carley Mealey at the Brisbane Consulting Group.

Taxgirl, my favorite tax site, has had a number of good posts on spousal support and taxes and on alimony in general.

Taxes are among the items you will need to consider when drafting a divorce agreement.  You need to think about how to divide any pending refund or liabilities, and how you are going to file for the current or prior year if you are still able to file jointly.

Another consideration should be how to handle any refunds (not so likely) or taxes and penalties that may occur for prior tax years when you filed jointly. Remember the divorce agreement can make one of you responsible but the IRS generally simply goes after the easier target.

And finally, someone sent me this article and I found it so fascinating I had to pass it on.

Best,

Nancy