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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 dependency exemption for children, one of the tax benefits that historically provoked intense debate between estranged parents. The new law went into effect on Jan. 1, 2018, but does not affect 2017 […]

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 certain circumstances, parents with children can file as head of household. To qualify, a single or legally separated person must maintain a household for more than half of the taxable year which is the principal residence of […]

PITTSBURGH — Family law attorneys expect changes in the federal tax code to make the already emotionally trying process of divorce more difficult while subjecting both spouses to added financial burdens. The Tax Cuts and Jobs Act of 2017 includes a provision that will completely flip the way alimony payments are taxed beginning in January 2019. Attorneys at Pittsburgh-based family law firm Pollock Begg Komar Glasser & Vertz LLC are […]

In a recent NBC News article, Pittsburgh family law attorney Brian C. Vertz discusses the impact new tax laws taking effect next year as part of the 2017 Tax Cuts and Jobs Act will have on divorcing couples. A survey conducted by the American Academy of Matrimonial Lawyers found nearly two-thirds of its members believe upcoming divorce cases will become more acrimonious under the new laws and that the plan offers […]

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 choose to file as married filing jointly, married filing separately, or have the added option of filing head of household. However, the decision regarding filing status cannot be made without properly weighing the advantages and disadvantages of […]

In a press release yesterday, the U.S. Treasury Department announced its ruling that same-sex couples may file joint income tax returns, regardless of whether they reside in states that recognize their marriage or not. In fact, the Treasury Department invites same-sex couples to amend their separate returns to file joint returns for the past three years. Other tax benefits not previously available to married same-sex couples are also described in […]