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Divorce and the Internal Revenue Service

Divorce and the Internal Revenue ServiceMany issues can arise after parties are divorced with regard to the filing of their income taxes. In the event you are divorced as of the end of the year you must file your taxes as either being head of household or as being single. If you had entered into a separation agreement you also may file as single or head of household.

It should be noted that people who file head of household or married joint filers usually have lower income taxes than individuals who file married living separately or as single individuals.

Child Custody and Who Receives the Tax Exemption for the Children

Usually, the residential custodial parent is entitled pursuant to the Internal Revenue Code the tax exemption for the parties’ dependent children. Individuals who enter into a settlement agreement on divorces are entitled to divide the exemptions between them in any manner they wish. When attorneys work out the terms of settlement agreements they often give the parent who has more income the tax benefits of the dependent exemption for the children.

Medical Expenses

Even the parent who are not the primarily residential custodial parent for the children still has the right in the Internal Revenue Code to deduct medical expenses related to their children.

Child Support Payments

Child support payments are not tax deductible by the individual making the payments. In addition, child support payments are not income to the individual who receiving the child support payments.

Tax Refunds

Parties who are in the midst of a divorce litigation should work out a written agreement as to who will receive the tax refund and/or on what percentage will each of the spouses receive of the tax refunds.

schlissel-headshotElliot S. Schlissel is a divorce lawyer representing clients throughout the Metropolitan New York area in both matrimonial and family law matter. He can be reached for a free consultation at 800-344-6431 or e-mailed at Elliot@sdnylaw.com.

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