Spouses who are separated, but not yet divorced, might wonder whether they should file a joint tax return. When spouses file their taxes together, each spouse can be held fully liable for the tax, as well as any interest or...
Divorce
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...
New Tax Law Eliminates Child Tax Exemption for Parents
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
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
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,...