Spouses who are separated should act promptly to settle their divorce cases, before changes in the federal tax law make it more difficult next year. Back in December 2017, the U.S. Congress passed a law that makes sweeping...
Legal Perspective
New Tax Law Eliminates Child Tax Exemption for Parents
April 1, 2018
After April 15, 2018, parents who are separated, divorced or unmarried will no longer have to fight over the tax deductions for their children. The U.S. Congress passed a new tax law in December 2017 that eliminates the...
Keeping Taxes Low During Separation and Divorce
April 1, 2018
Divorcing couples often face disastrous tax consequences because they go from filing taxes jointly to married filing separately, which creates the highest tax burden for both spouses. But, there is an alternative. Under...
Divorced Spouses Must Update Beneficiary Designations
March 25, 2018
Divorced spouses who do not update their beneficiary designations are taking an unnecessary risk, as illustrated by a case now pending before the U.S. Supreme Court. In Sveen v. Melin, No. 16-1432 (cert. granted December 8,...
What Are the Tax Filing Options for Separated Couples?
February 15, 2018
Tax time can be a stressful situation for any individual. However, for separated couples comes additional considerations and unavoidable tax planning. The ultimate decision which must be made is whether the separated parties...